This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The Principle of Comparative AdvantageThe table shows the production possibilities frontier for Gob ... (Read 19 times)

llesku

  • Full Member
  • ***
  • Posts: 175
on: Nov 23, 2022
The Principle of Comparative Advantage

The table shows the production possibilities frontier for Gob and George-Michael.
Gob​George-Michael
Magic TricksFrozen Bananas​Magic TricksFrozen Bananas
740​0​320​0
555​85​​240​205​
370​170​​160​410​
185​255​​80​615​
0340​​0820​
Assume before trade, Gob produced and consumed 370 magic tricks and 170 frozen bananas and George-Michael produced and consumed 160 magic tricks and 410 frozen bananas.  
Suppose Gob and George-Michael each specialize in making the good in which they have the comparative advantage and then trade. What are the overall gains from trade?
◦ 780 magic tricks, 240 frozen bananas
◦ 210 magic tricks, 1060 frozen bananas
◦ 210 magic tricks, 240 frozen bananas
◦ 240 magic tricks, 210 frozen bananas
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by llesku on Nov 23, 2022

labrinker

  • Full Member
  • ***
  • Posts: 162
Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


llesku

  • Member
  • Posts: 175
Reply 2 on: Nov 23, 2022
:D TYSM

nathang24

  • Member
  • Posts: 314
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Three principle forms of natural selection: (a) stabilizing selection, (b) directional selection, an Three principle forms of natural selection: (a) stabilizing selection, (b) directional selection, an
How to determine if a table of values represents a function How to determine if a table of values represents a function
Gestalt Principle: Similarity Gestalt Principle: Similarity
Section of a normal brain (left) and an HD brain (right). The HD brain shows extensive damage to the Section of a normal brain (left) and an HD brain (right). The HD brain shows extensive damage to the
Table - Correlation Analysis Table - Correlation Analysis
Major bone (tan) and cartilage (light blue) elements of the human skeleton. Inset shows regions of v Major bone (tan) and cartilage (light blue) elements of the human skeleton. Inset shows regions of v
Video: Properties of water -structure of water and polarity (Ionized and polar compounds)

For a complete list of videos, visit our video library