# Question: Devon’s total production of milk Devon’s total production of ice – Free Chegg Question Answer

Write a program that computes an integer’s checksum. To compute the checksum, break the integer into its c

Devon’s total production of milk | Devon’s total production of ice cream | Ravi’s total production of milk | Ravi’s total production of ice cream | |

Devote all time to producingMilk | 80 pints of milk | 0 pints of ice cream | 175 pints of milk | 0 pints of ice cream |

Devote all time to producing ice cream | 0 pints of milk | 20 pints of ice cream | 0 pints of milk | 25 pints of ice cream |

Note: Assume that both Devon and Ravi can produce any corresponding linear combination of milk and ice cream.

Consider Devon’s production of milk and ice cream

- What is Devon’s opportunity cost of producing a pint of ice cream?
- What is Devon’s opportunity cost of producing a pint of milk?
- What is Ravi’ opportunity cost of producing a pint of ice cream?
- What is Ravi’ opportunity cost of producing a pint of milk?
- Who has the absolute advantage in the production of milk?
- Who has the absolute advantage in the production of ice cream?
- Who has the comparative advantage in the production of milk?
- Who has the comparative advantage in the production of ice cream? (Please provide a brief explanation.)
- If both want to consume a strictly positive amount of both milk and ice cream: Who will trade milk for ice cream? (i.e. Who will give up milk in exchange for ice cream?)
- If both want to consume a strictly positive amount of both milk and ice cream: Who will trade ice cream for milk? (i.e. Who will give up ice cream in exchange for milk?)
- How much milk and ice cream will be produced if both Ravi and Devon completely specialize in the production of the product in which he has a comparative advantage?

Transcribed text From Image:

## Expert Chegg Question Answer:

Answer:

## Answer

1 | What is Devon’s opportunity cost of producing a pint of ice cream?4 pints of milk80 pints of milk/ 20 pints of ice cream = 4 pints of milk |

2. | What is Devon’s opportunity cost of producing a pint of milk?0.25 pints of ice cream20 pints of ice cream / 80 pints of ice cream = 0.25 pints of ice cream. |

3. | What is Ravi’ opportunity cost of producing a pint of ice cream?7 pints of milk175 pints of milk/ 25 pints of ice cream = 7 pints of milk |

4. | What is Ravi’ opportunity cost of producing a pint of milk?0.14 pints of ice cream25 pints of ice cream / 175 pints of milk = 0.14 pints of ice cream |

5. | Who has the absolute advantage in the production of milk?RaviRavi can produce 175 pints of milk against Davon’s 80 pints. |

6. | Who has the absolute advantage in the production of ice cream?RaviRavi can produce 25 pintsof ice cream against Davon’s 20 pints |

7. | Who has the comparative advantage in the production of milk?RaviRavi’s opportunity cost of milk is lower (0.14) than Davon’s (0.25) |

8. | Who has the comparative advantage in the production of ice cream?DavonDavon has a lower opportunity cost in producing ice cream (4 pints of milk) compared to Ravi (7 pints of ice cream). |

9. | If both want to consume a strictly positive amount of both milk and ice cream: Who will trade milk for ice cream?DevonDevon will specialize in ice cream and give up producing milk. Devon will produce only ice cream. |

10. | If both want to consume a strictly positive amount of both milk and ice cream: Who will trade ice cream for milk?RaviRavi will specialize in milk production and give up ice cream production. |

11. | How much milk and ice cream will be produced if both Ravi and Devon completely specialize in the production of the product in which he has a comparative advantage? Devon will produce 20 pints of ice cream and 0 milk.Ravi will produce 0 ice cream and 175 pints of ice milk. |