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Question: 14 problem set 1part 1114 assume for brazil that the...

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14. Problem Set #1-Part 11-14 Assume for Brazil that the opportunity cost of each cashew is 100 peanuts. Which of these pairs of points could be on Brazils production possibilities frontier? A. (200 cashews, 30,000 peanuts) and (150 cashews, 35,000 peanuts) B. (200 cashews, 40,000 peanuts) and (150 cashews, 30,000 peanuts) ° C. (300 cashews, 60,000 peanuts) and (200 cashews, 50,000 peanuts) D. (300 cashews, 60,000 peanuts) and (200 cashews, 80,000 peanuts)15. Problem Set #1-Part 11-15 Suppose a gardener produces both tomatoes and squash in his garden. If the opportunity cost of one bushel of squash is 2/5 bushel of tomatoes, then the opportunity cost of 1 bushel of tomatoes is A. 5 bushels of squash B. 5/2 bushel of squash C. 2 bushels of squash D. 2/5 bushel of squash16. Problem Set #1-Part 11-16 Suppose that a worker in Boatland can produce either 5 units of wheat or 25 units of fish per year, and a worker in Farmland can produce either 25 units of wheat or 5 units of fish per year. There are 10 workers in each country. Political pressure from the fish lobby in Farmland and the wheat lobby in Boatland has prevented trade between the two countries on the grounds that cheap imports would kill the fish industry in Farmland and the wheat industry in Boatland. As a result, Boatland produces and consumes 25 units of wheat and 125 units of fish per year while Farmland produces and consumes 125 units of wheat and 25 units of fish per year. If the political pressure were overcome and trade were to occur, each country would completely specialize in the product in which it has a comparative advantage. If trade were to occur, the combined output of the two countries would increase by: A. 50 units of wheat and 50 units of fish B. 75 units of wheat and 75 units of fish C. 100 units of wheat and 100 units of fish D. 25 units of wheat and 25 units of fish17. Problem Set #1-Part 11-17 Serena Williams should pay someone else to mow her lawn instead of mowing it herself, unless: I. Serena has an absolute advantage over everyone else in mowing her lawn. II. Serena has a comparative advantage over everyone else in mowing her lawn. III. Serenas opportunity cost of mowing her lawn is higher than it is for everyone else IV. All of the above are correct O A. II only B. IV. All are correct C. I only OD. III only

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