-Agnes Can Produce Either 1 Unit of X or 1

question 330

Multiple Choice

$$\begin{array} { | l | c | c | } \hline & \begin{array} { c } \text { U.S. production } \\\text { possibilities }\end{array} & \begin{array} { l } \text { France's production } \\\text { possibilities }\end{array} \\\hline \text { Steel } & 100 & 25 \\\hline \text { Concrete } & 200 & 100 \\\hline\end{array}$$
-Agnes can produce either 1 unit of X or 1 unit of Y in an hour, while Brenda can produce either 2 units of X or 4 units of Y in an hour. There can be gains from exchange

• A) if Agnes specializes in the production of X and Brenda specializes in the production of Y.
• B) only if Brenda becomes faster at producing X or Y.
• C) if Agnes specializes in the production of Y and Brenda specializes in the production of X.
• D) only if Agnes becomes faster at producing X.

---

Definitions:

Sample Average

The arithmetic mean of a set of numerical values, calculated by adding them together and dividing by the number of samples.

Skewed Distribution

A statistical term describing a distribution that is not symmetrical and has a long tail on one side of the peak.

Population Average

The mean value of a particular characteristic or measurement across an entire population.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much individual values in a dataset differ from the mean.