Curve Graph - numbers included - Statistics Project Example

I do not know if this makes any difference, but I use a MAC computer Nancy and Bill are auto mechanics. Nancy takes 4 hours to replace a clutch and 2 hours to replace a set of brakes. Bill takes 6 hours to replace a clutch and 2 hours to replace a set of brakes. State whether anyone has an absolute advantage at either task, and for each task, identify who has a comparative advantage.a. Nancy has absolute advantage over Bill at replacing a clutch.b. Nancy has comparative advantage over Bill at replacing a clutch, but Bill has comparative advantage over Nancy at replacing a set of brakes.i. Nancy’s opportunity cost of replacing a clutch is 2 brake replacements, while Bill’s opportunity cost is 3 brakes.ii. Bill’s opportunity cost of replacing a set of brakes is 1/3 of one clutch replacement, while Nancy’s opportunity cost of brakes is ½ of one clutch replacement.2) Susan can pick 4 pounds of coffee in an hour or gather 2 pounds of nuts.

Tom can pick 2 pounds of coffee in an hour or gather 4 pounds of nuts. Each works 6 hours per day.a. What is the maximum number of pounds of coffee the two can pick in a day?i. 36 poundsb. What is the maximum number of pounds of nuts the two can gather in a day?i. 36 poundsc. If Susan and Tom were picking the maximum number of pounds of coffee when they decided that they would like to begin gathering 4 pounds of nuts per day, who would gather the nuts, and how many pounds of coffee would they still be able to pick?i. Tomii.

34 pounds of coffeed. Now suppose Susan and Tom were gathering the maximum number of pounds of nuts when they decided that they would like to begin picking 8 pounds of coffee per day. Who would pick the coffee, and how many pounds of nuts would they still be able to gather?i. Susanii. 32 pounds of nutse. Would it be possible for Susan and Tom in total to gather 26 pounds of nuts and pick 20 pounds of coffee each day? If so, how much of each good should each person pick?i. Tom = 24 lbs. of nutsii.

Susan = 2 lbs. of nutsiii. Susan = 20 lbs. of coffeef. Is the point at 30 pounds of coffee per day, 12 pounds of nuts per day an attainable point? Is it an efficient point?i. Yes it is attainable1. Susan = 24 lbs. of coffee2. Tom = 6 lbs. of coffee and 12 lbs. of nutsii. This is efficientg. Is the point at 24 pounds of coffee per day, 24 pounds of nuts per day an attainable point? Is it an efficient point?i. Yes it is attainable1. Susan = 24 lbs. of coffee2. Tom = 24 lbs. of nutsii. This is efficienth.

On a graph with pounds of coffee per day on the vertical axis and pounds of nut on the horizontal axis, show all the points you identified in parts a-g.