Solved

Use the Following to Answer Question

Question 74

Multiple Choice

Use the following to answer question: Use the following to answer question:   -(Figure: The Production Possibility Frontiers for Jackson and Tahoe) Use Figure The Production Possibility Frontiers for Jackson and Tahoe.In autarky,Jackson produces and consumes 30 head of cattle and 80 bushels of wheat,while Tahoe produces and consumes 80 head of cattle and 60 bushels of wheat.If both nations specialize completely in the good of their comparative advantage and Jackson exports 120 bushels of wheat to Tahoe in exchange for 60 head of cattle,then the new consumption point for Jackson after trade is _____ bushels of wheat and _____ head of cattle. A) 120;30 B) 120;60 C) 80;60 D) 200;100
-(Figure: The Production Possibility Frontiers for Jackson and Tahoe) Use Figure The Production Possibility Frontiers for Jackson and Tahoe.In autarky,Jackson produces and consumes 30 head of cattle and 80 bushels of wheat,while Tahoe produces and consumes 80 head of cattle and 60 bushels of wheat.If both nations specialize completely in the good of their comparative advantage and Jackson exports 120 bushels of wheat to Tahoe in exchange for 60 head of cattle,then the new consumption point for Jackson after trade is _____ bushels of wheat and _____ head of cattle.


A) 120;30
B) 120;60
C) 80;60
D) 200;100

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents