Please help! Lorraine and Jake can produce any combination of peaches and nectarines described by the production possibilities curve above using the same amount of resources. Who has the absolute advantage in the production of each product? Explain. Who has the comparative advantage in the production of each product? Explain. Who will specialize in the production of each product? Explain using the concept of opportunity cost.
Answers
Answer 1:
The first thing to note is their production possibilities are typified using a straight line. This means their opportunity costs are constant.
Whichever way it is looked at, Lorain has the absolute advantage in the production of Peaches and Nectarines.
Explanation 1
When a producer is able to manufacture goods or services in greater quantity for the same cost, or the same quantity at a lower cost than its competition it is said to have Absolute Advantage over them.
From the graph, it is clear that Lorain has more resources than Jake. Resources could include but are not limited to Human Capital, Land, Vehicles, Production Equipment etc. If both companies used their resources to produce peaches, at its best, Lorain would produce 200 units while Jake would only hit 150 Units.
Having the ability to produce more gives Loraine the advantage of economies of scale. This means that Loraine is able to produce at a lower cost. Lower costs mean Loraine is able to charge lower prices in return.
Answer 2
The party with the lowest opportunity cost has the highest comparative advantage.
The highest comparative advantage for the production of peaches goes to Jake whilst the highest comparative advantage for the production of Nectarines goes to Loraine.
Explanation 2
To get the opportunity cost in each case, one would need to layout the information on the graph in tables. Please see the attached table for the solution showing each producers production possibility and their opportunity costs.
You would note that Loraines' opportunity cost for Peaches is 1.25 Nectaraines while Jakes opportunity cost for Peaches is 0.67 Nectarines. Both figures are obtained by making the production figure for Peaches the denominator and dividing the production amount of Nectaraine by that amount.
E.g.
Loraine (Peaches Opportunity Cost) = 250/200= 1.2 Nectaraines
Jake (Peaches Opportunity Cost) = 100/150 = 0.67 Nectaraine
To obtain the opportunity cost for Nectarines, the equation is reversed.
From the calculations, it's clear to see that it would cost Loraine 1.25 Nectarines to produce one Peache and Jake, 0.67 Nectarine to produce one Peach.
On the other hand, it would cost Loraine 0.8 Peach to produce one Nectaraine and Jake, 1 and a half peaches to produce one Nectarine.
Both Loraine and Jake, therefore, would be better off trading with one another.
Answer 3
Also, given the opportunity costs, Loraine would be better off producing Nectarines given that she incurs less opportunity cost and even produces more Nectarines using her resources.
Jake, on the other hand, should adopt a strategy that allows him to specialize in the production of Peaches. He incurs less opportunity cost whilst doing that. He also produces more of that if he used all his resources.
Cheers!
Related Questions
Read these sentences. "I heard that the company Gail used to work for was accused of tax fraud. I wouldn't trust her to be on the parent teacher organization committee." Which logical fallacy is used here? moral equivalence bandwagon appeal circular reasoning red herring
Answers
Answer:
moral equivalence
Explanation:
the speaker tries to make it seem like someone else doing tax fraud means gail will be bad as well
The logical fallacy is used here is moral equivalence. The correct option is A.
What is logical fallacy?The logical fallacy is false or misguided logic that can be disapproved by the reasoning. These logical fallacies are created with reasons that may look true when hear but when we will apply reasoning and actual logic, this argument can easily be disapproved.
Moral equivalence is an informal fallacy that is mostly used in politics. It uses a logic that uses logic in two topics that are not related to each other.
For example, dogs and cats both have paws and tails, so they are equal to each other is showing the logical fallacy, but it is not logically true. These fallacies have wrong reasoning which can easily be corrected by proof.
Thus, the correct option is A. moral equivalence.
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If 5 miles is 8 kilometres how many kilometres are in 3 miles?
Answers
Answer:
4.8km
Explanation:
5miles=8
3miles=x
cross multiply
5*x = 8*3
5x=24
divide both side by 5
x= 24/5
x=4.8km
Answer:
1kil=0.621mile
3 miles = 3/0.621=
4.8309
what are the levels of ecology
Answers
Answer:
Within the discipline of ecology, researchers work at five broad levels, sometimes discretely and sometimes with overlap
Explanation:
organism, population, community, ecosystem, and biosphere.
Hope it's helps you
Which behavior would best describe someone who has good communication skills with customers ? a ) Following up with some customers b ) Talking to customers more than listening to them c ) Repeating back what the customer says d ) Interrupting customers frequently
Answers
Answer:
A. following up with some customers
Hey there!
The answer is clearly A here.
Let me tell you why.
Would it be okay to not give customers the chance to talk (Choice B)?
Would it be okay to repeat everything (Choice C)?
Would it be okay to interupt your customer oftenly (Choice D)?
Hope this helps!
Have a great day!
Need Assistance
*Please Show Work*
Answers
Answer:
The answer is B
Explanation:
Because you can see how the answer...
3 Home Rule disadvantages and an example of a home rule.
Answers
Answer: you cannot do anything you want, cannot dream big, cannot have a life, an example of this is my house and my parents telling me what to do.
Explanation:
Idk how this is possible...
how did the cat cross the street
Answers
Answer:
in cat walk.
Explanation:
cat walk in its style called cat ealk
Answer:
Because he seen a dog behind him and ran as fast as he can.
Explanation:
Mark brainiest please.
which of these is an accurate characteristic of American civilizations from 1200-1450?
Answers
Which of the following is a result of lack of visible light at deeper levels in the ocean? Productivity does not exist in deep sea environments. Producers deep in the ocean have adaptive mechanisms to conduct photosynthesis with less light. Red sea organisms would be highly visible to predators in mid-ocean depths. Consumers engage is cellular respiration at rates substantially higher than surface consumers.
Answers
Answer:
Producers deep in the ocean have adaptive mechanisms to conduct photosynthesis with less light
Explanation:
Should we or should we not debunk the myths that hold societies together but that reduce individual happiness
Answers
Answer:
We should not debunk those myths that hold societies together but that reduces individual happiness because a saying says; united we stand, divided we fall.
Which means that when a society is united it also bring about individual happiness. So myths should not be debunked.
A team of four students has to be selected from A, B, C, D, E, F and G, according to the following
conditions:
B will not be with F.
A and C must be together.
E will not be with A.
G and D must be together.
F will not be with G.
A team can consist of:
ABCE
BDEG
BDFA
Answers
Answer:
BDEG
Explanation:
ABCE can't be because E will not be with A.
BDFA can't be because B will not be with F.
discuss the assertion that non formal institution have no role to play at the processing stage of the system thery is an empty rhetoric?
Answers
How is india becoming more Americanized
Answers
Answer:
First of all Americanization is defined as the process where immigrants to the United States have diverse changes in their behavior and their lifestyle according to the norm of the American society.
Indians have a large population in the United States due to search for better working conditions and other opportunities. The Indians after a while will have the American culture imbibed in them and their way of life begins to be similar to those of the Americans.
Natural resources including trees and oil are part of which factor of
production?
O A. Land
O B. Labor
O C. Capital
O D. Scarcity
Answers
Answer:
A. Land
Explanation:
Land includes any natural resources that land creates used to produce goods and services sold for a profit. Land also includes raw materials. Trees & oil are raw materials. Trees can be used to create paper & oil can be used for fuel. This makes A. the correct answer.
Answer: a. land
Explanation:
taught Frederick Douglass to read when he was a slave
Answers
Answer:
Douglass credits Hugh's wife Sophia with first teaching him the alphabet. From there, he taught himself to read and write. By the time he was hired out to work under William Freeland, he was teaching other enslaved people to read using the Bible
Each of the following is a type of homework except:
A. preparation
B. practice
C. concentration.
D. integration
SUBMIT
Answers
Answer:
ddddddddddddddddddddd
Chapters 1-3 Reading Quiz
Name
1. Which of the following best explains why Massachusetts Bay officials banished Anne Hutchinson?
She challenged gender roles and Puritan orthodoxy.
B She was found guilty of practicing witchcraft.
She preached the doctrine of predestination.
D
She gave birth to a child out of wedlock.
She opened an unlicensed tavem.
Answers
Answer:
She challenged gender roles and Puritan orthodoxy.
Explanation:
Anne Hutchinson was banished from Massachusetts because of her beliefs which were believed to be heretic according to Puritan orthodoxy.
She was born in England and later became a follower of John Cotton who taught that people are directly responsible to God and not the church. When she moved to Massachusetts, she held religious meetings where she disagreed with many of the Puritan doctrines.
Her gender as a woman also served to infuriate the Puritan leaders who ruled the colony and in 1637, she was put on trial, convicted and banished for her religious beliefs.
Doanh thu bán hàng được ghi nhận khi:
Answers
Answer:
Thu hang duoc nhan khi doanh
give five reasons for european exploration
Answers
Answer:
There are three main reasons for European Exploration. Them being for the sake of their economy, religion and glory. They wanted to improve their economy for instance by acquiring more spices, gold, and better and faster trading routes. Also, they really believed in the need to spread their religion, Christianity.
1) Better Trade Routes - Many people explored to find faster and cheaper ways to foreign countries.
2) Fame - Some people wanted to go down as a great name in history.
3) National Pride - Many people explored to claim new lands for their country and become national heroes.
4) Religion - Some explorers went on pilgrimages to spread Christianity.
5) Foreign Goods - People wanted to bring back spices and jewels that could not be found in their own country.
Characteristics of the state
Answers
Answer:
1.)Must have a definite territory
2.)should have a government
3.)should have a constitution
4.)must have a required population to become a definite state.
Based on the article, what do you think environmental racism is
Answers
Answer:
Racism based on location, area, the rules and regulations, and policies within a community
Explanation:
It should be based on how a certain person of color lives underneath their location / area and how it may affect their day to day lives.
Ex. Ghettos, slums, etc..
What are the most compelling ideas behind Federalist #10 ? (discuss five important points)
Answers
Answer:
Written by James Madison, this essay defended the form of republican government proposed by the Constitution. Critics of the Constitution argued that the proposed federal government was too large and would be unresponsive to the people.
In response, Madison explored majority rule v. minority rights in this essay. He countered that it was exactly the great number of factions and diversity that would avoid tyranny. Groups would be forced to negotiate and compromise among themselves, arriving at solutions that would respect the rights of minorities. Further, he argued that the large size of the country would actually make it more difficult for factions to gain control over others. “The influence of factious leaders may kindle a flame within their particular States, but will be unable to spread a general conflagration through the other States.”
Explanation:
Question 3
a) On March 1st, Valentina had six paddleboards ($500 cost). Each Monday this month (March 7th,
14th, 21st, and 28th), Valentina purchased six paddleboards from her supplier. The price increased to
$510 on March 12th, but dropped to $505 on March 28th. Valentina sold one paddleboard in week one
(March 1st to 7th), eight in week two, six in week three, and five in week four. Assuming the selling price
was $800 per paddleboard and Valentina uses the moving-weighted-average method, what was her
gross margin for March? Make all necessary journal entries and SHOW YOUR WORK!
b) Repeat 3a, but using the first-in-first-out method.
Answers
a) The gross margin for March, using the moving-weighted-average method is $5,907.
Journal Entries:
March 7th
Debit Inventory $3,000
Credit Cash $3,000
Debit Cost of Goods Sold $500
Credit Inventory $500
Debit Cash $800
Credit Sales Revenue $800
March 14th
Debit Inventory $3,060
Credit Cash $3,060
Debit Cost of Goods Sold $4,032
Credit Inventory $4,032
Debit Cash $6,400
Credit Sales Revenue $6,400
March 21st
Debit Inventory $3,060
Credit Cash $3.060
Debit Cost of Goods Sold $3,036
Credit Inventory $3,036
Debit Cash $4,800
Credit Sales Revenue $4,800
March 28th
Debit Inventory $3,030
Credit Cash $3,030
Debit Cost of Goods Sold $2,525
Credit Inventory $2,525
Debit Cash $4,000
Credit Sales Revenue $4,000
b) The gross margin for March, using the first-in-first-out method is $5,920.
Journal Entries:
March 7th
Debit Inventory $3,000
Credit Cash $3,000
Debit Cost of Goods Sold $500
Credit Inventory $500
Debit Cash $800
Credit Sales Revenue $800
March 14th
Debit Inventory $3,060
Credit Cash $3,060
Debit Cost of Goods Sold $4,000
Credit Inventory $4,000
Debit Cash $6,400
Credit Sales Revenue $6,400
March 21st
Debit Inventory $3,060
Credit Cash $3,060
Debit Cost of Goods Sold $3,030
Credit Inventory $3,030
Debit Cash $4,800
Credit Sales Revenue $4,800
March 28th
Debit Inventory $3,030
Credit Cash $3,030
Debit Cost of Goods Sold $2,530
Credit Inventory $2,530
Debit Cash $4,000
Credit Sales Revenue $4,000
Workings:
Cost of Goods Sold based on Moving Weighted-Average Method
Date Description Qty Unit Cost Total Cost Ending Balance
March 1st Beginning inventory 6 $500 $3,000 $3,000
March 7th Purchases 6 $500 $3,000 $6,000 ($3,000 + $3,000)
Week 1 Cost of Sales -1 $500 $500 $5,500 ($6,000 - $500)
March 14th Purchases 6 $510 $3,060 $8,560 ($5,500 + $3,060)
Week 2 Cost of Sales -8 $504 $4,032 $4,528 ($8,560 - $4,032)
March 21st Purchases 6 $510 $3,060 $7,588 ($4,528 + $3,060)
Week 3 Cost of Sales -6 $506 $3,036 $4,552 ($7,588 - $3,036)
March 28th Purchases 6 $505 $3,030 $7,582 ($4,552 + $3,030)
Week 4 Cost of Sales -5 $505 $2,525 $5,057 ($7,82 - $2,525)
Sales revenue = 20 x $800 = $16,000
Cost of goods sold = Cost of goods available – Ending inventory
= $10,093 ($15,150 - $5,057)
Gross margin for March = $5,907 ($16,000 - $10,093)
FIFO Method:
Date Description Qty Unit Cost Total Cost Ending Balance
March 1st Beginning inventory 6 $500 $3,000 $3,000
March 7th Purchases 6 $500 $3,000 $6, 000 ($3,000 + $3,000)
Week 1 Cost of Sales -1 $500 $500 $5,500 ($6,000 - $500)
March 14th Purchases 6 $510 $3,060 $8,560 ($5,500 + $3,060)
Week 2 Cost of Sales -8 $500 $4,000 $4,560 ($8,560 - $4,000)
March 21st Purchases 6 $510 $3,060 $7,620 ($4,560 + $3,060)
Week 3 Cost of Sales -6 $3,030 $4,590 ($7,620 - $3,030)
March 28th Purchases 6 $505 $3,030 $7,620 ($4,590 + $3,030)
Week Four Cost Sales -5 $510 $2,550 $5,070 ($7,620 - $2,550)
Sales revenue = 20 x $800 = $16,000
Cost of goods sold = Cost of goods available – Ending inventory
= $10,080 ($15,150 - $5,070)
Gross margin for March = $5,920 ($16,000 - $10,080)
Thus, Velentina's gross margin or profit is the difference between its sales revenue and the cost of goods sold.
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What the correct answer
Answers
Answer:
i think its C
Answer:
your answer is C
he wasindeed the first one
Family counselors often view the family system as their client and treat the family as one entity, as opposed to treating individual family members, and our laws a. Favor the rights of families as a whole over the rights of individual family members. b. Support family counselors by also viewing the family system as one entity. c. View family members as having separate and distinct rights and responsibilities that are individual in nature. d. Create a “fiction” that a family is a person under the law. e. Do not recognize that families exist in our society.
Answers
Answer:
view the family members as having separate and distinct rights and responsibilities that are individual in nature
Explanation:
Family counselling refers to a kind of psychotherapy that can help to achieve one or more goals. It can help to strengthen interactions and understand relationships within a family. It may discuss the needs and responsiblity of the family, when one member struggles from a mental or physical disorder that adversely affectst her's actions or behaviors. The counselor frequently serves as a moderator in family therapy, where he or she is trying to make sure that each member of the family gets a reasonable chance to share concerns and contribute to the discussion about how the family can perform better.
Which woman is LEAST likely to have shed her ethnically proscribed gender roles?
A. A woman at a university in Pakistan
B. A woman in a city in Saudi Arabia
C. A woman in a manufacturing town in China
D. A woman in a farming village in Russia
E. A woman at a high tech firm in Singapore
Which of the following identifies the part of Malthus's theory that was incorrect?
A. Food production grew much more quickly than Malthus predicted.
B. The population grew much more than Malthus predicted.
C. A famine caused food production to fall instead of grow as Malthus predicted.
D. A war reduced the population size instead of growing as Malthus predicted.
E. The population remained steady and did not grow as Malthus predicted.
Which of the following scenarios is supported by the gravity model?
A. A Canadian immigrant chooses to move to South Africa over the United States.
B. A Canadian immigrant chooses to move to Sudan over the United Kingdom.
C. A Chinese immigrant chooses to move to Liechtenstein over Russia. D. A Chinese immigrant chooses to move to Argentina over Spain.
E. A Chinese immigrant chooses to move to France over the United States.
Answers
Answer:
1.
B
2.
B
3.
A Chinese immigrant chooses to move to France over the United States.
46.The budget deficits of the federal government of the United States
has caused interest rates to increase? true or fAlse
Answers
ANSWER:
it is true
Explanation:
The projected deficit for 2021 has increased by a third, mostly because of recently enacted legislation.
vai trò của cô giáo mầm non trong việc tổ chức các hoạt động giáo dục tích hợp theo chủ đề cho trẻ ở trường mầm non.
Answers
Answer:
hi
Explanation:
A set of biology exam scores are normally distributed with a mean of 60 points and a standard deviation of 6 points. Antoaneta got a score of 51 points on the exam. What proportion of exam scores are higher than Antoaneta's score? You may round your answer to four decimal places.
Answers
Answer:
0.9332 (0.93 rounded) of exam scores are higher than Antoaneta's score
Answer:
0.9332
Explanation:
khan
Find the doubling time of an investment earning 3% interest if interest is compounded continuously?
Answers
Answer:
Time taken (n) = 23.4 years
Explanation:
Given:
Present value (P) = P
SO,
Future value (A) = 2P
Interest rate (r) = 3 % = 0.03
Find:
Time taken (n)
Computation:
[tex]A = p (1+r)^n\\\\ 2P = P(1+0.03)^n \\\\ 2 = (1.03)^n \\\\ n = 23.4 \ years[/tex]
Time taken (n) = 23.4 years
Given values:
Interest rate,
r = 3%= 0.03
Let,
Present value = PFuture value = 2PThe computation will be:
→ [tex]A = p(1+r)^n[/tex]
By substituting the values,
[tex]2P = P(1+0.03)^n[/tex]
[tex]2 = (1.03)^n[/tex]
[tex]n = 23.4 \ years[/tex]
Thus the above answer is correct.
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