With One Hour of Labor Time Nation a Can Produce

question 4

Multiple Choice

With one hour of labor time nation A can produce either 3X or 3Y while nation B can produce either 1X or 3Y (and labor is the only input) .The range of mutually beneficial trade between nation A and B is:

• A) 3Y < 3X < 5Y
• B) 5Y < 3X < 9Y
• C) 3Y < 3X < 9Y
• D) 1Y < 3X < 3Y

---

Definitions:

Vertical Distance

The difference in height or elevation between two points, often used in the context of graphs or geographical features.

Profit-Maximizing Quantity

The level of output at which a firm achieves the maximum possible profit, where marginal revenue equals marginal cost.

Panel

A group of people gathered to discuss, analyze, or recommend on a particular subject matter or to conduct a study.

Intersection

The point or area where two or more lines or paths cross or meet.