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Microeconomics Third Edition Chapter 2 Economic Models: Trade-offs and Trade Copyright © 2013 by Worth Publishers Paul Krugman and Robin Wells.

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Presentation on theme: "Microeconomics Third Edition Chapter 2 Economic Models: Trade-offs and Trade Copyright © 2013 by Worth Publishers Paul Krugman and Robin Wells."— Presentation transcript:

1 Microeconomics Third Edition Chapter 2 Economic Models: Trade-offs and Trade Copyright © 2013 by Worth Publishers Paul Krugman and Robin Wells

2 Figure 2.1 The Production Possibility Frontier Krugman and Wells: Microeconomics, Third Edition Copyright © 2013 by Worth Publishers

3 Figure 2.2 Increasing Opportunity Cost Krugman and Wells: Microeconomics, Third Edition Copyright © 2013 by Worth Publishers

4 Figure 2.3 Economic Growth Krugman and Wells: Microeconomics, Third Edition Copyright © 2013 by Worth Publishers

5 Figure 2.4 Production Possibilities for Two Countries Krugman and Wells: Microeconomics, Third Edition Copyright © 2013 by Worth Publishers

6 Table 2.1 U.S. and Brazilian Opportunity Costs of Small Jets and Large Jets Krugman and Wells: Microeconomics, Third Edition Copyright © 2013 by Worth Publishers

7 Table 2.2 How the United States and Brazil Gain from Trade Krugman and Wells: Microeconomics, Third Edition Copyright © 2013 by Worth Publishers

8 Figure 2.5 Comparative Advantage and Gains from Trade Krugman and Wells: Microeconomics, Third Edition Copyright © 2013 by Worth Publishers

9 Unnumbered Figure 2.1 Pajama Republics Krugman and Wells: Microeconomics, Third Edition Copyright © 2013 by Worth Publishers

10 Figure 2.6 The Circular-Flow Diagram Krugman and Wells: Microeconomics, Third Edition Copyright © 2013 by Worth Publishers


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