(Table) Given the Production Possibilities Schedules for the United States

question 15

Multiple Choice

(Table) Given the production possibilities schedules for the United States and Chile, which product should the United States produce if it is to produce the good for which it has a comparative advantage? $$\begin{array}{l}\text { U.S. Production Possibilities }\\\begin{array} { c c c } & \begin{array} { c } \text { Bread } \\\text { (loaves) }\end{array} & \begin{array} { c } \text { Avocados } \\\text { (bushels) }\end{array} \\\text { A } & 100 & 0 \\\text { B } & 80 & 10 \\\text { C } & 60 & 20 \\\text { D } & 40 & 30 \\\text { E } & 20 & 40 \\\text { F } & 0 & 50 \\& & \\& \text { Chile Production Possibilities } \\& \text { Bread } & \text { Avocados } \\& \text { (loaves) } & \text { (bushels) } \\\text { G } & 15 & 0 \\\text { H } & 12 & 12 \\\text { I } & 9 & 24 \\\text { J } & 6 & 36 \\\text { K } & 3 & 48 \\\text { L } & 0 & 60\end{array}\end{array}$$

• A) bread
• B) avocados
• C) neither bread nor avocados
• D) both bread and avocados

Recognize different types of curves used in production theory, including isoquant, isocost, and production possibilities frontier.

Evaluate the effects of changes in labor and capital on the marginal product and the cost-benefit analysis of such changes.

Understand the concept of the marginal rate of technical substitution and its role in production optimization.

Analyze the effects of technological advancements on production efficiency and labor productivity.

---

Definitions:

Gender Development

The process by which individuals develop their gender identity, often influenced by biological, social, and cultural factors.

Contemporary Western Society

Refers to modern societies in the Western hemisphere, characterized by democratic values, technological advancement, and a market-based economy.

Adolescence

A developmental stage between childhood and adulthood, marked by physical, psychological, and social changes.

Rate Of Violent Crimes

The frequency at which violent crimes occur within a given population or area over a specific period of time.