The only two countries in the world, Alpha and Omega, face the following production possibilities frontiers.
Alpha's Production Possibilities Frontier Omega's Production Possibilities Frontier
a. Assume that each country decides to use half of its resources in the production of each good. Show these points on the graphs for each country as point A.
b. If these countries choose not to trade, what would be the total world production of popcorn and peanuts?
c. Now suppose that each country decides to specialize in the good in which each has a comparative advantage. By specializing, what is the total world production of each product now?
d. If each country decides to trade 100 units of popcorn for 100 units of peanuts, show on the graphs the gain each country would receive from trade. Label these points B.
Definitions:
Personal Moral Code
A set of principles or ethics that an individual personally follows, guiding their behavior and decisions based on their beliefs about what is right and wrong.
Care Perspective
An ethical viewpoint emphasizing caring for others and maintaining relationships as a moral compass.
Carol Gilligan
An American feminist, ethicist, and psychologist best known for her work on moral development, especially in women.
Moral Reasoning
The process by which individuals think through ethical issues and come to a conclusion or judgment.
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