25 question 16 points jessica and buster both produce nuts and coffee. they each prefer to consume a diet…

25 question 16 points jessica and buster both produce nuts and coffee. they each prefer to consume a diet that is half nuts and half coffee. both have access to the same resources. if jessica focuses on producing only coffee, she can produce 20 pounds of coffee in a week. if she only produces nuts, she can produce 40 pounds of nuts in a week. buster can produce a maximum of 15 pounds of coffee in a week. he could also choose to produce only nuts, in which case he can produce 30 pounds of nuts a week. 1st attempt part 1 (1 point) who has an absolute advantage in coffee production? who has an absolute advantage in nut production? choose one: a. buster has an absolute advantage in coffee, and jessica has an absolute advantage in nuts. b. buster has an absolute advantage in both coffee and nuts. c. jessica has an absolute advantage in coffee, and buster has an absolute advantage in nuts. d. jessica has an absolute advantage in both coffee and nuts. part 2 (4 points) a. what is the opportunity cost for jessica to produce one more pound of nuts? pounds of coffee b. what is the opportunity cost for jessica to produce one more pound of coffee? pounds of nuts c. what is the opportunity cost for buster to produce one more pound of nuts? pounds of coffee d. what is the opportunity cost for buster to produce one more pound of coffee? pounds of nuts part 3 (1 point) who has a comparative advantage in nut production? who has a comparative advantage in coffee production? choose one: a. jessica has a comparative advantage in both coffee and nut production. b. buster has a comparative advantage in both coffee and nut production. c. jessica has a comparative advantage in nut production, and buster has a comparative advantage in coffee production. d. buster has a comparative advantage in nut production, and jessica has a comparative advantage in coffee production.

25 question 16 points jessica and buster both produce nuts and coffee. they each prefer to consume a diet that is half nuts and half coffee. both have access to the same resources. if jessica focuses on producing only coffee, she can produce 20 pounds of coffee in a week. if she only produces nuts, she can produce 40 pounds of nuts in a week. buster can produce a maximum of 15 pounds of coffee in a week. he could also choose to produce only nuts, in which case he can produce 30 pounds of nuts a week. 1st attempt part 1 (1 point) who has an absolute advantage in coffee production? who has an absolute advantage in nut production? choose one: a. buster has an absolute advantage in coffee, and jessica has an absolute advantage in nuts. b. buster has an absolute advantage in both coffee and nuts. c. jessica has an absolute advantage in coffee, and buster has an absolute advantage in nuts. d. jessica has an absolute advantage in both coffee and nuts. part 2 (4 points) a. what is the opportunity cost for jessica to produce one more pound of nuts? pounds of coffee b. what is the opportunity cost for jessica to produce one more pound of coffee? pounds of nuts c. what is the opportunity cost for buster to produce one more pound of nuts? pounds of coffee d. what is the opportunity cost for buster to produce one more pound of coffee? pounds of nuts part 3 (1 point) who has a comparative advantage in nut production? who has a comparative advantage in coffee production? choose one: a. jessica has a comparative advantage in both coffee and nut production. b. buster has a comparative advantage in both coffee and nut production. c. jessica has a comparative advantage in nut production, and buster has a comparative advantage in coffee production. d. buster has a comparative advantage in nut production, and jessica has a comparative advantage in coffee production.

Answer

Explanation:

Step1: Define absolute - advantage concept

Absolute advantage is when a producer can make more of a good with the same resources. Jessica can produce 20 pounds of coffee and 40 pounds of nuts, while Buster can produce 15 pounds of coffee and 30 pounds of nuts. Since Jessica can produce more of both coffee (20 > 15) and nuts (40 > 30), she has an absolute advantage in both.

Step2: Calculate Jessica's opportunity - costs

The opportunity cost of producing one more pound of nuts for Jessica is the amount of coffee she gives up. If she can produce 40 pounds of nuts or 20 pounds of coffee, the opportunity cost of 1 pound of nuts is $\frac{20}{40}=0.5$ pounds of coffee. The opportunity cost of 1 pound of coffee for Jessica is $\frac{40}{20} = 2$ pounds of nuts.

Step3: Calculate Buster's opportunity - costs

Buster can produce 30 pounds of nuts or 15 pounds of coffee. The opportunity cost of 1 pound of nuts for Buster is $\frac{15}{30}=0.5$ pounds of coffee. The opportunity cost of 1 pound of coffee for Buster is $\frac{30}{15}=2$ pounds of nuts.

Step4: Define comparative - advantage concept

Comparative advantage is based on lower opportunity - cost. Since both Jessica and Buster have the same opportunity costs for producing nuts and coffee, we assume there is no comparative advantage in this case (a tie in opportunity costs). But if we consider the general method, we note that for nuts, both have an opportunity cost of 0.5 pounds of coffee per pound of nuts, and for coffee, both have an opportunity cost of 2 pounds of nuts per pound of coffee.

Answer:

Part 1: D. Jessica has an absolute advantage in both coffee and nuts. Part 2: a. 0.5 b. 2 c. 0.5 d. 2 Part 3: There is no clear comparative advantage as opportunity costs are equal for both in both goods (assuming no other factors). If we must choose based on the options, we note that the equal opportunity - cost situation is not well - represented in the given options, but if we consider the general concept strictly, we can't choose any of A, B, C, D as they imply non - equal opportunity costs for comparative advantage determination.