Points A and B on the Combined graph represent Malaysia's and Canada's production, and the red point shows the combined production of the two countries. Which of the following is a correct interpretation of points A and B? multiple choice 1 Each country is using all of its resources. Malaysia is using a higher percentage of resources than Canada. Canada is using a higher percentage of resources than Malaysia. Both countries have unused resources that could increase production without a tradeoff.
Points A and B on the Combined graph represent Malaysia's and Canada's production, and the red point shows the combined production of the two countries. Which of the following is a correct interpretation of points A and B? multiple choice 1 Each country is using all of its resources. Malaysia is using a higher percentage of resources than Canada. Canada is using a higher percentage of resources than Malaysia. Both countries have unused resources that could increase production without a tradeoff.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Points A and B on the Combined graph represent Malaysia's and Canada's production, and the red point shows the combined production of the two countries.
Which of the following is a correct interpretation of points A and B?
multiple choice 1
Each country is using all of its resources.
Malaysia is using a higher percentage of resources than Canada.
Canada is using a higher percentage of resources than Malaysia.
Both countries have unused resources that could increase production without a tradeoff.
Transcribed Image Text:0
SETTINGS
Production Possibilities
Labor
Malaysia
Canada
Malaysia (Pt. A)
Canada (Pt. B)
Production Possibilities for Malaysia
Lumber
(0 - 320 ft³)
280
100
Lumber
(0 - 100%)
50
50
or
or
Rice
(0 - 320 tons)
70
300
Rice
(%)
50
Reset
50
CALCULATIONS
Malaysia
Canada
Total
Initial Production
Lumber
140
50
Production Possibilities for Canada
190
Rice
35
150
185
New Production
Lumber
140
50
190
Rice
35
150
185
Transcribed Image Text:GRAPH
Lumber
280
A (35, 140)
70
MALAYSIA
Rice
Lumber
100
CANADA
B (150, 50)
300
Each
Combined
Rice
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