Table 1-1 Assume that Andia and Zardia can switch between producing wheat and producing beef at...

     

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Table 1-1 Assume that Andia and Zardia can switch between producing wheat and producing beef at a constant rate. Andia Zardia les to consume fewer goods. Minutes Needed to Make 1 Bushel of Wheat Pound of Beef 20 15 12 10 7. Refer to Table 1-1. Assume that Andia and Zardia each has 360 minutes available. If each person divides his time equally between the production of wheat and beef, then total production is a. 10.5 bushels of wheat and 16.5 pounds of beef. b. 21 bushels of wheat and 33 pounds of beef. c. 35 bushels of wheat and 22 pounds of beef. d. 42 bushels of wheat and 66 pounds of beef. 8.Refer to Table 1-1. Which of the following combinations of wheat and beef could Andia produce in one 8-hour day? a. 6 bushels of wheat and 35 pounds of beef b. 9 bushels of wheat and 25 pounds of beef C. 15 bushels of wheat and 20 pounds of beef d. 24 bushels of wheat and 40 pounds of beef 9. Refer to Table 1-1. Who has absolute advantage in producing wheat? 10. Refer to Table 1-1. Who has absolute advantage in producing Beef? 11. Refer to Table 1-1. Who has comparative advantage in producing wheat? 12. Refer to Table 1-1. Who has comparative advantage in producing Beef? Table 1-1 Assume that Andia and Zardia can switch between producing wheat and producing beef at a constant rate. Andia Zardia les to consume fewer goods. Minutes Needed to Make 1 Bushel of Wheat Pound of Beef 20 15 12 10 7. Refer to Table 1-1. Assume that Andia and Zardia each has 360 minutes available. If each person divides his time equally between the production of wheat and beef, then total production is a. 10.5 bushels of wheat and 16.5 pounds of beef. b. 21 bushels of wheat and 33 pounds of beef. c. 35 bushels of wheat and 22 pounds of beef. d. 42 bushels of wheat and 66 pounds of beef. 8.Refer to Table 1-1. Which of the following combinations of wheat and beef could Andia produce in one 8-hour day? a. 6 bushels of wheat and 35 pounds of beef b. 9 bushels of wheat and 25 pounds of beef C. 15 bushels of wheat and 20 pounds of beef d. 24 bushels of wheat and 40 pounds of beef 9. Refer to Table 1-1. Who has absolute advantage in producing wheat? 10. Refer to Table 1-1. Who has absolute advantage in producing Beef? 11. Refer to Table 1-1. Who has comparative advantage in producing wheat? 12. Refer to Table 1-1. Who has comparative advantage in producing Beef?

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Given Bushel of Wheat Pound of Beef Andia 20 12 Zardia 15 10 7 The time is taken by Andia and Zardia to make wheat and beef When they both have 360 minutes each to produce each good then the total pro... View the full answer