Suppose that a worker in Country A can make either 25 bananas or 5 tomatoes each year. Country A has 200 workers. Suppose a worker in Country B can make either 18 bananas or 6 tomatoes each year. Country B has 400 workers. Two possible consumption bundles that Country B could produce are:
A. (7,200 bananas, 2,400 tomatoes) and (3,600 bananas, 1,200 tomatoes)
B. (7,200 bananas, 0 tomatoes) and (4,000 bananas, 1,200 tomatoes)
C. (3,600 bananas, 1,200 tomatoes) and (1,800 bananas, 1,600 tomatoes)
D. (1,800 bananas, 1,800 tomatoes) and (900 bananas, 2,200 tomatoes)
C. (3,600 bananas, 1,200 tomatoes) and (1,800 bananas, 1,600 tomatoes)
You might also like to view...
Tom and Jerry are the only members of society. The table above shows their marginal benefits from defense satellites, a public good. If the marginal social cost of a satellite is $95, the efficient quantity of satellites is
A) 0. B) 1. C) 2. D) 3.
Why would a firm in balanced oligopoly choose a tit-for-tat strategy?
The Keynesian consumption function is in an economy C = 10 + 0.8 Yd. When disposable income is €1000, what is total consumption?
(a) 0.8 (b) 800 (c) 810 (d) 0.81
Explain the difference between fixed costs in the short run and in the long run.
What will be an ideal response?