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Table 3-23 Assume That the Farmer and the Rancher Can Switch Between

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Table 3-23
Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate.
Table 3-23 Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate. ​   -Refer to Table 3-23. Without trade, the farmer produced and consumed 2 pounds of pork and 4 pounds of tomatoes and the rancher produced and consumed 4 pounds of pork and 2 pounds of tomatoes. Then, each person agreed to specialize in the production of the good in which he has a comparative advantage and trade 4 pounds of pork for 6 pounds of tomatoes. As a result, A) the farmer gained 3 hours worth of production and the rancher gained 4 hours worth of production. B) the farmer gained 4 hours worth of production and the rancher gained 6 hours worth of production. C) the farmer gained 6 hours worth of production and the rancher gained 8 hours worth of production. D) the farmer gained 8 hours worth of production and the rancher gained 10 hours worth of production.
-Refer to Table 3-23. Without trade, the farmer produced and consumed 2 pounds of pork and 4 pounds of tomatoes and the rancher produced and consumed 4 pounds of pork and 2 pounds of tomatoes. Then, each person agreed to specialize in the production of the good in which he has a comparative advantage and trade 4 pounds of pork for 6 pounds of tomatoes. As a result,

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Definitions:

Normally Closed

A term referring to an electrical switch or circuit state where the contacts are closed (allowing current flow) when no actuating force is applied.

Electrical State

An electrical state refers to the condition of an electrical component or system, such as being charged, discharged, on, or off.

Drum Switch

A switch used to change the direction of rotation of an electric motor or machine tool.

Selector Switch

A switch that allows the user to choose between multiple states or modes of operation within a circuit by turning a knob or lever to the desired position.

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