That England and Holland can switch between producing milk and oats at a constant rate Table 3-1 … 1 answer below »

that England and Holland can switch between producing milk and oats at a constant rate Table 3-1 Number of Units Produced in an Hour Milk Oats England 10 Holland 8 16. Refer frontier for England measuring milk along the horizontal axis, then rto Table 3-1. We could use the information in the table to draw a production possibilities and a second production possibilities frontier for Holland. If we were to do th slope of England’s production possibilities frontier would be -10o/4 and the slope o slope of England’s production possiblities frontier would be -4/10 and the slope Holland’s production possibilities frontier would be -4/3. Holland’s production possibilities frontier would be-3/4. the slope of England’s Holland’s production possibilities frontier would be 4/3. b. t C. production possibilities frontier would be 10/4 and the slope d. slope of England’s production possibilities frontier would be 4/10 and the slope Holland’s production possibilities frontier would be 3/4. 17. Ken and Traci are two woodworkers who both make tables and chairs. In one month, Ken can 3 tables or 18 chairs, whereas Traci can make 8 tables or 24 chairs. Given this, we know that the opportunity cost of 1 chair is a. 1/6 table for Ken and 1/3 table for Traci. b. 1/6 table for Ken and 3 tables for Traci. c. 6 tables for Ken and 1/3 table for Traci. d. 6 tables for Ken and 3 tables for Traci. 18. If Shawn can produce donuts at a lower opportunity cost than Sue, then a. Shawn has a comparative advantage in the production of donuts. b. Sue has a comparative advantage in the production of donuts. c. Shawn should not produce donuts. d. Shawn is capable of producing more donuts than Sue in a given amount

 

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