Consider the economies of the hypothetical nations Icecountry and Sandland. These nations produce only two goods, scooters and food. Let’s say that, in one day, a worker in each country can produce either the number of scooters or the amount of food indicated in the table below: Icecountry Sandland
Number of scooters 16 20
Quantity of food 40 lb 100 lb
A. What is the opportunity cost of producing a scooter in each country?
B. Which country has a comparative advantage in the production of food? In your answer, identify the opportunity cost paid by each producer.
C. If the countries specialize and trade, into what range could the terms of trade (pounds of food exchanged per scooter) possibly fall? Explain your answer. In your explanation, be sure to indicate which country is producing which good.

Suppose that the free states of eldricia, a small nation, has consumption, investment, government purchases, imports, and exports as follows. consumption $140 investment $50 government purchases $45 imports $30 exports $15 calculate the free states of eldricia's gdp

Melissa is a very generous single woman. before this year, she had given over $11,400,000 in taxable gifts over the years and has completely exhausted her applicable credit amount. in the current year, melissa gave her daughter riley $100,000 and promptly filed her gift tax return. melissa did not make any other gifts this year. how much gift tax must riley pay the irs because of this transaction?

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities. required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.