subject
Business, 14.03.2020 00:53 smelcher3900

Consider two neighboring island countries called Contente and Dolorium. They each have 4 million labor hours available per month that they can use to produce jeans, corn, or a combination of both. The following table shows the amount of jeans or corn that can be produced using 1 hour of labor.

Country Jeans Corn
(Pairs per hour of labor) (Bushels per hour of labor)
Contente 8 16
Dolorium 5 20
Initially, suppose Contente uses 1 million hours of labor per month to produce jeans and 3 million hours per month to produce corn, while Dolorium uses 3 million hours of labor per month to produce jeans and 1 million hours per month to produce corn. Consequently, Contente produces 8 million pairs of jeans and 48 million bushels of corn, and Dolorium produces 15 million pairs of jeans and 20 million bushels of corn. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of jeans and corn it produces.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 12:00
Need today! will get brainliest for right answer! compare and contrast absolute advantage and comparative advantage.
Answers: 1
question
Business, 22.06.2019 16:30
Summarize the specific methods used by interest groups in order to influence governmental decisions making in all three branches of government. provide at least two examples from each branch.
Answers: 3
question
Business, 22.06.2019 17:30
Kevin and jenny, who are both working full-time, have three children all under the age of ten. the two youngest children, who are three and five years old, attended eastside pre-school for a total cost of $3,000. ervin, who is nine, attended big kid daycare after school at a cost of $2,000. jenny has earned income of $15,000 and kevin earns $14,000. what amount of childcare expenses should be used to determine the child and dependent care credit?
Answers: 3
question
Business, 22.06.2019 21:20
In a market economy, supply and demand are important because theya. (i) play a critical role in the allocation of the economy's scarce resources.b. (ii) determine how much of each good gets produced.c. (iii) can be used to predict the impact on the economy of various events and policies.d. all of (i), (ii), and (iii) are correct.
Answers: 3
You know the right answer?
Consider two neighboring island countries called Contente and Dolorium. They each have 4 million lab...
Questions
question
English, 29.11.2021 16:50
question
Social Studies, 29.11.2021 16:50
question
History, 29.11.2021 17:00
question
English, 29.11.2021 17:00
question
Health, 29.11.2021 17:00
Questions on the website: 13722359