Question: how do I figure these problems, I don't understand Animals trained per day: Elephants Mary 4 1 n and Mary work at a Circus as

how do I figure these problems, I don't understand

how do I figure these problems, I don't understand Animals trained perday: Elephants Mary 4 1 n and Mary work at a Circus

Animals trained per day: Elephants Mary 4 1 n and Mary work at a Circus as animal trainers. The table above st how many animals each of them can train in one day. a. Draw the production possibilities frontiers (PPFs) for Joan and Mary with elephants on the horizontal axis and giraffes on the vertical axis. Assume each of them has 10 days. b. Indicate the opportunity cost of training one giraffe for Mary. Show the opportunity cost of training one elephant for Mary. (2. Indicate the opportunity cost of training one elephant for Joan. Show the opportunity cost of training one giraffe forjoan. d. Who has the comparative advantage in training giraffes? Who has the comparative advantage in training elephants? e. Who has the absolute advantage in training giraffes? Who has the absolute advantage in training elephants? 12 12 10 10 Ear Phones Ear Phones N N 0 2 3 0 1 2 3 Lollipops Lollipops Nation A Nation B Nation A and B can each produce Lollipops and Ear Phones. Assume each nation is producing 12 units of ear phones and 0 units of lollipops. 1. What is the opportunity cost for each nation to increase production from 0 lollipops to 1 lollipop? Nation A Nation B 2. What is the opportunity cost for each nation to increase production from 1 lollipop to 2 lollipops? Nation A Nation B 3. What is the opportunity cost for each nation to increase production from 2 lollipops to 3

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!