KIC000032 - Instructor kolthoom alkofnhi Date Come Eco...

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Unformatted text preview: Instructor: kolthoom alkofnhi Date: 9/20/09 Come: Eco 2301-05 Thu: 7:33 PM Book: Hubbard/O'Brien: Microeconomics 2e A.dgn.uum;livvcntza :5; Specializing in the production of a good or service in which one has a comparative advantage enables a cmmtry to do all of the following except - f a A. engage in mutually beneficial trade with other nations. .g’B. produce a combination of goods that lie outside its own production possibilities fi'ontier. . :T- (2. increase the variety of products that it can consume with no increase in resources. . ; a D. consume a combination of goods that lie outside its own production possibilities frontier. 3-“- ; . . . ' 1 h g :3 Pakistan lndonesra CashCWs (pounds) Cashews (potluck) % 150 ‘ 120 l i 240 320 g : Cotton (bolts) Cotton (bolts) The figure above shows the production possibilities fi'ontiers for Pakistan and Indonesia. Each , country produces two goods, cotton and cashews. i What is the opportunity cost of producing 1 bolt of cloth in Pakistan? i 3 A E pounds ofcashews E: 150 pounds of cashcws M :. E pounds of cashews ‘ U 1; pounds of cashews ...
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