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
1. What are your thoughts about online learning?
I like sitting at home and learning online.
I would rather be at school with my friends and teachers.
I don't care. Either way. Just excited to be learning.
I don't like school at all. I want to go back to bed.
Answers
Answer:
I do like learning from home because I typically teach myself anyways. I do indeed miss my friends and interacting with people tho.
Explanation:
Answer:
C( I don't care. Either way. Just exited to be learning.)
Explanation:
Cause i like it this way. :)
On a coordinate plane, line M N goes through (negative 4, 0) and (4, 2). Point P is at (2, negative 4). Which point on the x-axis lies on the line that passes through point P and is perpendicular to line MN? (0, 1) (0, 4) (1, 0) (4, 0)
Answers
Answer:
C, (1,0)
Explanation:
A perpendicular line is when 2 lines cross each other with right angles, which are 90⁰ angles. Two lines are only perpendicular when the lines slopes are negative reciprocals to each other.
To find the slope of the first graph use, (y2-y1)/(x2-x1)
This is, 2-0/4+4
2/8
1/4 is the slope for the first line.
The negative reciprocal of this is -4.
We are also looking for a point on the x axis, so this eliminates answer choice A, and B, because they aren't even on the x axis.
When you test out answer choice c it will show that,
-4-0/2-1=-4/1 which is just -4.
These points on line p will pass each other when you add +4, y=-4x+4. So because of both of these lines negative reciprocating slopes, it shows that it will be answer C.
The point on the x-axis that is perpendicular to MN and passes through point P is: C. (1, 0).
What is the Slope of Perpendicular Lines?The slope values of lines that are perpendicular to each other are negative reciprocals.
Slope of MN = rise / run = [tex]\frac{y_2 - y_1}{x_2 - x_1} = \frac{2 - 0}{4 - (-4)} = \frac{2}{8} = \frac{1}{4}[/tex]
Thus, the slope between the point on line MN and point P, making both lines perpendicular would be negative reciprocal of 1/4, which is -4.
Let (x1, y1) represent the point we are looking for.
(2, -4) = (x2, y2)
Slope = -4
Therefore:
[tex]\frac{-4 - y_1}{2 - x_1} = -4[/tex]
-4 - y1 = -4
-y1 = -4 + 4
-y1 = 0
y1 = 0
2 - x1 = 1
-x1 = 1 - 2
-x1 = -1
x1 = 1
The coordinate of the point is: C. (1, 0).
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How were the native peoples of the Americas living prior to European contact?
Answers
Answer:
Explanation:
D. They were divided into many diverse cultures speaking more than 2,000 different languages
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:
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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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.
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 many words should my assignment be
Answers
Answer:
Explanation:
it depends you can write 200 to 300 words
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.
With respect to counseling minor clients who are considering abortion a. Counselors should immediately refer these clients to medical professionals. b. that these clients may need to process issues of abuse, loss, love, and hopes for the future c. Counselors should advocate their own moral position regarding abortion. d. Counselors should be aware that most teens avoiding talking to their parents about pregnancy because adolescents need to rebel against parental authority e. Counselors should exercise care when assisting a minor to obtain an abortion.
Answers
Answer:
Option d seems to be the correct choice.
Explanation:
Minors become legally underneath the parental as well as guardians' management and implementation; therefore, they will not be allowed to do anything without their permission and approval. Therefore, risk-taking and risky behavior can ruin not only the wellbeing but rather the confidence of the teenagers that they can't seem to manage alone. Consequently, the counselors will make every attempt to encourage limited participants to receive the parents' permission.Certain solutions don't apply to the specified scenario. Thus the alternative above would be the right one.
The correct option for counseling is (e). Counselors should exercise care when assisting a minor to obtain an abortion.
Counselors must have a sensitive, empathic, and professional stance while working with young clients who are considering getting an abortion. They should take precautions and make sure the therapeutic relationship is supportive, nonjudgmental, and respectful of the client's autonomy and decision-making.
Counselors should offer a secure environment where clients can examine their thoughts, feelings, and options around pregnancy and abortion. Helping the client process their feelings and thoughts, comprehend their options, and come to a decision that is consistent with their values and beliefs should be the main goal.
As the counseling relationship should be client-centered and non-directive, it is inappropriate for counselors to promote their own moral stance on abortion. The counselor's job is to assist the client in making decisions; it is not their job to impose their own opinions.
Counselors should also be aware of the moral and legal issues related to adolescents seeking abortion services. There may be laws and rules governing minors' access to abortion, as well as their rights to confidentiality and consent, depending on the jurisdiction.
Hence, the correct option is (e). Counselors should exercise care when assisting a minor to obtain an abortion.
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01:23:42 Plates are puzzle-piece like sections of the lithosphere that move over the asthenosphere, carrying pieces of continental and oceanic crust. Which statement about the plates can geologists assume is true? The plates are less than 70 km in thickness. The plates assist in forming Earth’s magnetic field. The plates are denser than the oceanic crust. The plates experience little pressure from the weight of rocks.
Answers
Answer: The plates assist In forming earths ma field
Explanation:
I read up on things B)
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.
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.
If nominal interest rate equals 5 percent and expected inflation is 3 percent, then the new nominal and real interest rates are respectively: 3% and 5%. 8% and 5%. 5% and 2%. 5% and 7%. 7% and 5%.
Answers
Answer:
If nominal interest rate equals 5 percent and expected inflation is 3 percent, then the new nominal and real interest rates are respectively 5% and 2%.
Explanation:
The nominal interest rate is called the interest rate that is set by the bank and that will be added to the initial capital gradually according to the percentage established in the initially determined time. Thus, in the case, an annual interest of 5% is given, with which a deposit of $ 100 will rise to $ 105 after one year.
Now, the nominal interest rate may not represent real money growth. This is so because, due to inflation, a depreciation of the invested value occurs. Thus, for example, a deposit with an interest rate of 5% per year in a currency with inflation of 10% per year is losing 5% of its value during that year. In the case, since inflation is 3%, the real interest rate (that is, the real growth of investment) is 2%.
What are the possible gametes formed in a fly with the genotype VvEe
Answers
Answer:
VE,Ve,vE,ve
so they are 4
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.
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.
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:
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
Read five sections in Orientation to College by Steltenpohl, Shipton, and Villines and writes summary of each one of these readings
Answers
Answer: shouldn’t you be doing these?
Explanation:
I read these, but I’m not gonna tell you the answer...
Need Assistance
*Please Show Work*
Answers
Answer:
The answer is B
Explanation:
Because you can see how the answer...
Depending on the study, it is sometimes necessary for psychologists to be deceptive. Please select the best answer from the choices provided T F
Answers
Answer: True
Explanation:
Psychologists do indeed find it necessary to have to use deceit in their research to get the best response because if they do not, subjects in the research may not give the most accurate response to avoid being judged or ridiculed.
Indeed the practice is even allowed by the American Psychological Association (APA) in Ethical Standard 8.07, Deception in Research. Under this standard, deception is allowed if the study requires it. They are however to disclose this deception as quickly as possible without harming the integrity of the study.
Answer:
t for true
Explanation:
I know just trust me
From whose perspective is this map constructed? A neutral perspective A colonial perspective Unique perspective of the cartographer An Indian perspective A Sri Lankan perspective
Answers
Answer:
A Neutral Perspective.
Explanation:
Note the bottom copyright colormark. It is by the Encyclopedia Britannica, which is based in the U.S. and the U.K. (primarily a U.K. site).
Based on this information, most likely the information is not biased towards either side, as it is just a map. If anything, one can assume that the image was posted near when the book talks about Sri Lanka.
~
Answer:
A Sri Lankan perspective
Explanation:
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.
