Solution:
In an hour,
Susan can pick either 4 pounds of coffee beans or 2 pounds of nuts.
Tom can pick either 2 pounds of coffee beans or 4 pounds of nuts.
Then, in a day with 6 hours (on the extremes),
Susan can pick either (6*4=) 24 pounds of coffee beans or (6*2=) 12 pounds of nuts.
Tom can pick either (6*2=) 12 pounds of coffee beans or (6*4=) 24 pounds of nuts.
a) So, in a day, together Susan and Tom can pick
Maximum pounds of coffee beans = 24 + 12 = 36 pounds
Maximum pounds of nuts = 12 + 24 = 36 pounds
b) Clearly, in an hour, Susan can gather more pounds of coffee beans than Tom (4 > 2), thus, Susan has a comparative advantage in picking coffee beans.
Susan should pick the coffee beans.
Since Susan takes an hour to gather 4 pounds of coffee beans, to gather 8 pounds of coffee beans, she'll need to devote 2 hours of her day towards coffee beans gathering. Now, she still is left with (6-2=) 4 hours, which can be used to gather nuts. In 4 hours, Susan can gather 4*2= 8 pounds of nuts.
Furthermore, Tom still gives his entire day to nut collection, so he gathers 24 pounds of nuts (as already noted in introductory part before part (a)). So, together they would still be able to gather (8+24=) 32 pounds of nuts.
c) Yes, picking 26 pounds of nuts and 20 pounds of coffee beans in total each day is possible. This is how:
As already noted, since Susan specialize in coffee beans picking and Tom specialize in nut picking, this combination is achievable is Tom does what he specializes in, that is give his entire day to nut collection. So, this way 24 pounds of nuts can be gathered.
Similarly, Susan can devote her most time in what she specializes in. Achieving this combination requires from Susan to collect 20 pounds of coffee beans and 2 pounds of nuts. So, if she devotes 5 hours in coffee beans collection (gathering 5*4= 20 pounds of it) and 1 hour in nut collection (gathering 1*2= 2 pounds of it), this combination can be achieved. Hence, we have the following table:
| Coffee beans | Nuts | |
| Tom | 0 pounds | 24 pounds |
| Susan | 20 pounds | 2 pounds |
d) In similar way as in above part, we can say that a combination of 30 pounds of coffee beans and 12 pounds of nuts is attainable. This happens when Susan collects only coffee beans (thus, collecting 24 pounds of coffee beans by devoting all 6 hours to it) and Tom collects a combination of both items (devoting 3 hours to coffee beans collection, thereby gathering 3*2=6 pounds of coffee beans and devoting remaining 3 hours to nut collection, thereby gathering 3*4= 12 pounds of nuts).
k Plus hapter 2 Assignment He 4 Susan can pick 4 pounds of coffee beans in...
Susan can pick 4 pounds of coffee in an hour or gather 2 pounds of nuts. Tom can pick 2 pounds of coffee in an hour or gather 4 pounds of nuts. Each works 6 hours per day a. What is the maximum number of pounds of coffee the two can pick in a day? b. What is the maximum number of pounds of nuts the two can gather in a day? c. Suppose Susan and Tom were picking the...
Susan can pick 4 pounds of coffee in an hour or gather 2 pounds of nuts. Tom can pick 2 pounds of coffee in an hour or gather 4 pounds of nuts. Each works 6 hours per day. Assume that Tom and Susan specialize according to their comparative advantage to produce coffee and nuts a. Suppose that Susan and Tom could buy or sell coffee and nuts in the world market at a price of $2 per pound for coffee...
In one hour, Fred can pick 10 pounds of coffee beans or 5 pounds of nuts. Wilma can pick 7 pounds of coffee beans or 4 pounds of nuts in one hour. Based on this information, (Select should pick the nuts. (Select) Fred « Previous Wilma Next
Suppose that Costa Rican worker Carlos can produce elther 100 pounds of coffee or 1 computer per week, and a second worker, Maria, can produce elther 150 pounds of coffee or 1 computer per week. Both Carlos and Maria work 50 weeks per year Instructions: Enter all values as absolute numbers. a. Carlos' opportunlty cost of producing a computer is pounds of coffee, and Maria's opportunity cost of producing a computer is pounds of coffee both workers completely specialize in...
Question 1.Susan can brew 5 gallons of root beer in an hour or she can make 4 pizzas in an hour. Becky can brew 7 gallons of root beer in an hour or she can make 5 pizzas in an hour. Susan's opportunity cost of making a pizza is gallons of root beer. Becky's opportunity cost of making a pizza is gallons of root beer. Enter numbers rounded to two decimal places. Question 2 Bill and Fred bake cakes and...
10 12 At a factory, a machine fills bags with coffee beans. After the bags are filled, another machine weighs them. If the bag's weight differs from 16 ounces by more than 0.5 ounces, the bag is rejected. Which equation could be used to find the heaviest and lightest acceptable weights? A) -0.5=16 B) x-16 =0.5 C) x+0.5| = 16 D) x + 16 =0.5 It usually takes Jane between 30 and 40 minutes to drive to visit her friend's...
Question 9 If a country has a comparative advantage in producing fish, then they must also have an absolute advantage in producing fish. True or False Question 11 If John can produce a good in less time than Fred then he has an absolute advantage in producing that good. True or False Question 12 Latasha can read 30 pages of economics in an hour. She can also read 20 pages of sociology in an hour. She spends 4 hours per...
Back to Assignment Attempts: Do No Harm: 4/5 2. Inputs and outputs Rosa's Performance Pizza is a small restaurant in Miami that sells gluten-free pizzas. Rosa's very tiny kitchen has barely enough room for the two ovens in which her workers bake the pizzas. Rosa signed a lease obligating her to pay the rent for the two ovens for the next year. Because of this, and because Rosa's kitchen cannot fit more than two ovens, Rosa cannot change the number...
Q 1: Clancy and Eileen are farmers. Each one owns a 20-acre plot
of land. The following table shows the amount of corn and rye each
farmer can produce per year on a given acre. Each farmer chooses
whether to devote all acres to producing corn or rye or to produce
corn on some of the land and rye on the rest.CornRye(Bushels per acre)(Bushels per acre)Clancy205Eileen5010On the following graph, use the blue line (circle symbol) to
plot Clancy's production possibilities...
Assignment: Bob is a 40-year old man who recently went for a doctor’s appointment. His doctor told him that he is obese and is at risk for type II diabetes. Bob’s doctor explained to Bob that it would be very beneficial for him to lose weight, to decrease his risk for type II diabetes and improve his cardiovascular health. Bob’s Measurements at his recent doctor’s appointment: Weight: 240 pounds Height: 6’ 0” Bob’s Estimated Caloric Requirements to maintain current weight:...