New_HW_4 - Name Homework 3 Chapters 3 9 Multiple Choice 1...

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Name _______________________________________________ Homework 3: Chapters 3, 9 Multiple Choice: 1 point each For the following question(s), use the accompanying table. Table 3-2 Labor Hours needed to make one Amount produced in 90 hours: Quilt Dress Quilts Dresses Helen 50 10 1.8 9 Carolyn 90 45 1 2 ____ 1. Refer to Table 3-2 . Helen has a comparative advantage in a. quilts and Carolyn has an absolute advantage in neither good. b. dresses and Carolyn has an absolute advantage in quilts. c. quilts and Carolyn has an absolute advantage in dresses. d. dresses and Carolyn has an absolute advantage in neither good. ____ 2. Refer to Table 3-2. We could use the information in the table to draw a production possibilities frontier for Helen and a second production possibilities frontier for Carolyn. If we were to do this, measuring quilts along the horizontal axis, then a. the slope of Helen’s production possibilities frontier would be -0.2 and the slope of Carolyn’s production possibilities frontier would be -0.5. b. the slope of Helen’s production possibilities frontier would be -5 and the slope of Carolyn’s production possibilities frontier would be -2. c. the slope of Helen’s production possibilities frontier would be 0.2 and the slope of Carolyn’s production possibilities frontier would be 0.5.
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New_HW_4 - Name Homework 3 Chapters 3 9 Multiple Choice 1...

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