Table 9-6 Output Per Hour Production and Production

question 177

Multiple Choice

Table 9-6
Output per hour Production and Production
of work Consumption without Trade with Trade

Denmark and Belize can produce both clocks and hats. Each country has a total of 200 available labor hours for the production of clocks and hats. Table 9-6 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade.
-Refer to Table 9-6.All of the following are terms of trade that could possibly benefit both countries except

• A)4/5 of a hat : 1 clock.
• B)1.2 hats : 1 clock.
• C)1.5 hats : 1 clock.
• D)2.25 hats : 1 clock.

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Definitions:

Marginal Cost

The extra expense resulting from the production of a single additional product or service unit.

Fixed Cost

Fixed costs are business expenses that remain unchanged regardless of the level of production or sales, such as rent, salaries, and insurance premiums.

Output

The cumulative sum of products and services generated by an economy.

Average Fixed Cost

The set expenses associated with production (not influenced by production scale) distributed over the number of items produced.