Illustrate what is james opportunity cost of producing, Ask an Expert

Economics

Q1. what is michelle's opportunity cost of producing potatoes what is michelle's cost of producing chickens illustrate what is james cost of producing potatoes illustrate what is james opportunity cost of producing chickens which person has an absolute advantage in which activities which person has a comparative.

Q2. Suppose that Country A and Country B currently (in 2011) have identical PPF's. However, Country A devotes only 5% of its resources to the production of capital goods, whereas Country B devotes 30% of its resources to the production of capital goods. Which country is likely to experience more rapid economic growth in the future? If you were to draw the two nations' PPF's on the same graph, which would be farther to the right? (i.e., which country's PPF would lie farther out from the origin)?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9220044

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