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 28 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
YES! Correct, THANKS for helping me on my review

sultansheikh

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four
Scheme of the principle of the fluorescent in situ hybridization to localize a gene in the nucleus. Scheme of the principle of the fluorescent in situ hybridization to localize a gene in the nucleus.
Good body mechanics when facing the table directly. A. Head and back in alignment. B. Legs and feet ... Good body mechanics when facing the table directly. A. Head and back in alignment. B. Legs and feet ...
World Aquaculture Production "لإنتاج العالمي لتربية الأحياء" World Aquaculture Production "لإنتاج العالمي لتربية الأحياء"
Table Tennis Racket Table Tennis Racket
Physics - Density, Pressure, and Pascal's Principle Physics - Density, Pressure, and Pascal's Principle
Video: Skin Cancer

For a complete list of videos, visit our video library