In a Single Year, Argentina Can Raise 100 Tons of Beef

question 117

Essay

In a single year, Argentina can raise 100 tons of beef or produce 1,000 boxes of tulips.In the same growing season, Venezuela can raise 50 tons of beef or produce 750 boxes of tulips.When the two countries begin trading beef for tulips, we would expect the consumer surplus from beef consumption to:
A.fall in Argentina.
B.rise in Argentina.
C.stay the same in Argentina.
D.either rise or fall in Argentina.

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Definitions:

Positive Correlation

A relationship between two variables where if one variable increases, the other one also increases or if one decreases, the other also decreases.

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The act of having and caring for a dog as a pet, which includes the responsibility for its welfare and actions.

Regression Discontinuity

Regression discontinuity is a statistical technique used in econometrics and quantitative research to estimate the causal effect of an intervention by assigning a cutoff point and comparing outcomes on either side of that cutoff.