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Answer the next question on the basis of the following productionpossibilities data for Egypt and Greece:
Egypt production possibilities:
A B C D E
Shirts 0 50 100 150 200
Pants 1200 800 400 200 0

Greece production possibilities:
A B C D E
Shirts 120 90 60 30 0
Pants 0 90 180 270 360

Refer to the above data. What would be feasible terms of tradebetween Egypt and Greece?

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Keith LeannonLv2
12 Dec 2019
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Related questions

Answer the next question on the basis of the followingproduction possibilities data for Landia and Scandia:
Landia production possibilities:
A B C D E
Fish 8 6 4 2 0
Chips 0 4 8 12 16
Scandia production possibilities:
A B C D E
Fish 48 36 24 12 0
Chips 0 12 24 36 48
Refer to the above data. What would be feasible terms of tradebetween Landia and Scandia?

1. Using the data in the table, answer the questions that follow:

a. In which good does Canada have absolute advantage and in which good does Italy

have absolute advantage? Explain your answer.

b. In which good does Canada have a comparative advantage and in which good does

Italy have a comparative advantage? Explain your answer.

c. What might be a set of favorable terms of trade for the two countries?

d. Prove that both countries would be better off in the specialization-trade case

than in the no specialization-no trade case.

Points on
Production
Possibilities CANADA ITALY
Frontier GOOD X GOOD Y GOOD X GOOD Y

A 150 0 90 0

B 100 25 60 60

C 50 50 30 120

D 0 75 0 180

I have done the charts can any one help me with the questions below.
c. Determine the profit maximizing level of output. Explain how you arrived at that conclusion.
d. What is the total profit at the profit maximizing level of output? How does that compare to profit at other levels of output?
e. What is the lowest price that Winsome Widgets will accept and continue to produce in the short run? Explain.
f. Is Winsome Widgets in long-run equilibrium? Explain

Consider the following table of costs for the Winsome Widget Factory, which operates in a perfectly competitive market. The market price faced by this firm is $6.00 per widget.
0
10
20
30
40
50
60
70
80
90
100

Total Fixed Cost
100
100
100
100
100
100
100
100
100
100
100











Total Variable Cost
0
50
80
100
140
200
275
375
500
650
900

Total Cost
$100
150
180
200
240
300
375
475
600
750
1,000
Average Fixed Cost
n/a
10
5
3.33
2.5
2
1.67
1.43
1.25
1.11
1

Average Variable Cost
n/a
5
4
3.33
3.5
4
4.58
5.36
6.25
7.22
9

Average Total Cost
n/a
5
4
3.33
3.5
4
4.58
5.36
6.25
7.22
9

Marginal Cost
n/a
50
30
20
40
60
75
100
125
150
250

Total Revenue
0
60
120
180
240
300
360
420
480
540
600

Marginal Revenue
n/a
60
60
60
60
60
60
60
60
60
60

Total Profit
-100
-90
-60
-20
0
0
-15
-55
-120
-210
-400

T Fixed Cost
100
100
100
100
100
100
100
100
100
100
100

Variable cost
50
80
100
140
200
275
375
500
650
900

AFC
n/a
10
5
3.33
2.5
2
1.67
1.43
1.25
1.11
1


AVC
n/a
5
4
3.33
3.5
4
4.58
5.36
6.25
7.22
9


AVC
n/a
5
4
3.33
3.5
4
4.58
5.36
6.25
7.22
9


MC
n/a
50
30
20
40
60
75
100
125
150
250



TR
0
60
120
180
240
300
360
420
480
540
600



MR
n/a
60
60
60
60
60
60
60
60
60
60



TP
-100
-90
-60
-20
0
0
-15
-55
-120
-210
-400
c. Determine the profit maximizing level of output. Explain how you arrived at that conclusion.
d. What is the total profit at the profit maximizing level of output? How does that compare to profit at other levels of output?
e. What is the lowest price that Winsome Widgets will accept and continue to produce in the short run? Explain.
f. Is Winsome Widgets in long-run equilibrium? Explain

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