Business, 04.10.2021 14:50 adantrujillo1234

QUESTION 8 Graph of a production possibility frontier for country Z showing cell phones daily production on the y-axis and clothing daily production on the x-axis. Points are as follows A: 0,8 B: 10,6 C: 15,4 D: 18,2 and E: 20,0. Point G is outside of the curve at 15,7 and F is inside the curve at 10,4.

The graph shows that Country Z can the opportunity cost of producing 8 cellphones is 20 clothing. If Country X wants to buy 8 cellphones and pay 30 clothing, what would Country Z do?
a.
Country Z and X are better off by trading with each other (e. g., Country Z is better getting 30 clothing by trade than producing 20 clothing)

b.
All of the above

c.
Gains from trade allow for this voluntary exchange between Country Z and X

d.
Country Z will focus all production to make 8 cellphones (A) and trade them with Country X for 30 clothing, instead of producing domestically 20 clothing (E)

Answers: 2

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QUESTION 8 Graph of a production possibility frontier for country Z showing cell phones daily prod...

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