Econ: production possibility frontier | Economics homework help

1,000 Word Minimum  + Ref’s…. Original / NOT already purchased answers / assignment. 🙂

 

Suppose that there are two products: clothing and soda. Both Brazil and the United States produce each product. Brazil CAN produce 100,000 units of clothing per year and 50,000 cans of soda. The United States CAN produce 65,000 units of clothing per year and 250,000 cans of soda. Assume that costs remain constant. For this example, assume that the production possibility frontier (PPF) is a straight line for each country because no other data points are available or provided. Include a PPF graph for each country in your paper.

Complete the following:

  • What would be the production possibility frontiers for Brazil and the United States?
  • Without trade, the United States produces AND CONSUMES 32,500 units of clothing and 125,000 cans of soda.
  • Without trade, Brazil produces AND CONSUMES 50,000 units of clothing and 25,000 cans of soda.
  • Denote these points on each COUNTRY’s production possibility frontier. 
  • Using what you have learned and any independent research you may conduct, which product should each country specialize in, and why?

Additional questions to consider include:

  • What is the labor-intensive good?
  • What is the Marginal Rate of Transformation impact?
  • What is the labor-abundant country?
  • What is the capital-abundant country?
  • Could trade help reduce poverty in Brazil and other developing countries?
Calculate your order
Pages (275 words)
Standard price: $0.00
Client Reviews
4.9
Sitejabber
4.6
Trustpilot
4.8
Our Guarantees
100% Confidentiality
Information about customers is confidential and never disclosed to third parties.
Original Writing
We complete all papers from scratch. You can get a plagiarism report.
Timely Delivery
No missed deadlines – 97% of assignments are completed in time.
Money Back
If you're confident that a writer didn't follow your order details, ask for a refund.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00
Power up Your Academic Success with the
Team of Professionals. We’ve Got Your Back.
Power up Your Study Success with Experts We’ve Got Your Back.