Business, 16.02.2022 15:10 minnahelhoor

Steve can bake either 4 loaves of bread or 12 dozen cookies a day. Sarah can bake either 4 loaves of bread or 8 dozen cookies a day. a. Show the production possibilities frontiers for Steve and Sarah
b. Suppose trade is not allowed between Steve and Sarah and as a result, both Steve and Sarah spent half a day (12 hours) baking bread and the other half a day baking cookie. Show both the production and consumption bundles for Steve and Sarah on their respective PPFs, when trade is not allowed between Steve and Sarah.
c. Show, using production possibility frontiers in (a), that Steve and Sarah would be better off specializing in their baking activities and then trading, rather than baking only for themselves. Be specific and state the production and consumption bundles with trade.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 18:20, Yalmar6874

Uppose the book-printing industry is competitive and begins in a long-run equilibrium. then hi-tech printing company invents a new process that sharply reduces the cost of printing books. suppose hi-tech's patent prevents other firms from using the new technology. which of the following statements are true about what happens in the short run? check all that apply. hi-tech's average-total-cost curve shifts downward. hi-tech's profits increase. the price of books remains the same. hi-tech's marginal-cost curve remains the same.

Answers: 1

continue

Business, 22.06.2019 07:50, sis212

Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to change its inventory method to lifo. if the company had used the lifo method in 2017, the company estimates that ending inventory would have been in the range $130,000-$135,000. what adjustment would connors make for this change in inventory method?

Answers: 1

continue

Business, 22.06.2019 21:30, anthonybowie99

What term is used to describe the outsourcing of logistics? a. shipper managed inventoryb. hollow logistics(smi)c. sub-logisticsd. e-logisticse. third-party logistics (3pl)

Answers: 1

continue

Business, 22.06.2019 21:40, goku4420

Inventory by three methods; cost of goods sold the units of an item available for sale during the year were as follows: jan. 1 inventory 20 units at $1,800 may 15 purchase 31 units at $1,950 aug. 7 purchase 13 units at $2,040 nov. 20 purchase 16 units at $2,100 there are 18 units of the item in the physical inventory at december 31. determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: round your final answers to the nearest dollar. cost inventory method ending inventory cost of goods sold a. first-in, first-out method $ $ b. last-in, first-out method $ $ c. weighted average cost method $ $

Answers: 3

continue

You know the right answer?

Steve can bake either 4 loaves of bread or 12 dozen cookies a day. Sarah can bake either 4 loaves of...