Table 3-27 Assume That Huang and Min Can Switch Between Producing Parasols

question 50

Multiple Choice

Table 3-27
Assume that Huang and Min can switch between producing parasols and producing porcelain plates at a constant rate.
​
-Refer to Table 3-27. Assume that Huang and Min each has 36 labor hours available. Originally, each person divided his/her time equally between the production of parasols and plates. Now, each person spends all their time producing the good in which they have a comparative advantage. As a result, the total output of plates increased by

• A)0.
• B)1.5.
• C)3.
• D)9.

---

Definitions:

World's Top Brands

Brands that have achieved global recognition and success, often characterized by strong identity, exceptional quality, and significant influence on consumer choices.

Differentiated Oligopoly

A market structure in which a few firms offer products or services that are not perfect substitutes, leading to competition based on product differentiation.

Homogeneous Oligopoly

A market condition where a few companies offer products or services that are essentially the same, leading to competition primarily based on price.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for product differentiation and some control over pricing.