Poornima is a skilled toy maker who is able to produce both trains and balls. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time.
On the following graph, use the blue points (circle symbol) to plot Poornima's initial production possibilities frontier (PPF).
Suppose Poornima is currently using combination D, producing one train per day. Her opportunity cost of producing a second train per day is _______ per day.
Now, suppose Poornima is currently using combination C, producing two trains per day. Her opportunity cost of producing a third train per day is _______ per day.
From the previous analysis, you can determine that as Poornima increases her production of trains, her opportunity cost of producing one more train _______ .
Suppose Poornima buys a new tool that enables her to produce twice as many trains per hour as before, but it doesn't affect her ability to produce balls. Use the green points (triangle symbol) to plot her new PPF on the previous graph.
Because she can now make more trains per hour, Poornima's opportunity cost of producing balls is _______ it was previously.
Poornima is a skilled toy maker who is able to produce both trains and balls. She has 8 hours a day to produce toys.
Poornima is a skilled toy maker who is able to produce both trains and kites. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. Hours Producing Produced Choice (Trains) (Kites) (Trains) (Kites) 13 16 17 On the following graph, use the blue points (circle symbol) to plot Poornima s initial production possibilities frontier PPF . 30 Initial PPF New PPF Suppose Poornima is currently using...
4. Opportunity cost and production possibilities Amy is a skilled toy maker who is able to produce both trains and puzzles. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time.On the following graph, use the blue points (circle symbol) to plot Amy's initial production possibilities frontier (PPF). Suppose Amy is currently using combination D, producing one train per day. Her opportunity cost of producing a second train...
4. Opportunity cost and production possibilities Latasha is a skilled toy maker who is able to produce both trains and drums. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time.On the following graph, use the blue points (circle symbol to plot Latasha's initial production possibilities frontier (PPF) Suppose Latasha is currently using combination D, producing one train per day. Her opportunity cost of producing a second train...
Amy is a skilled toy maker who is able to produce both trains and drums. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. Hours Producing (Trains) (Drums) Produced (Trains) (Drums) Choice A 8 0 4 0 B 6 2. 3 10 с 4 4 2 16 D N 6 1 19 E 0 8 0 20 On the following graph, use the blue points...
Opportunity cost and production possibilities Gilberto is a skilled toy maker who is able to produce both trains and kites. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Hours ProducingProducedChoice(Trains)(Kites)(Trains)(Kites)A8040B62310C44216D26119E08020On the following graph, use the blue points (circle symbol) to plot Gilberto's initial production possibilities frontier (PPF). Suppose Gilberto is currently using combination D, producing one train per day. His opportunity cost of producing a second train...
Lucia is a skilled toy maker who is able to produce both trucks and kites. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. On the following graph, use the blue points (circle symbol) to plot Lucia's initial production possibilities frontier (PPF). Suppose Lucia is currently using combination D, producing one truck per day. Her opportunity cost of producing a second truck per day is _______ per...
11. Opportunity cost and production possibilities Becky is a skilled toy maker who is able to produce both cars and kites. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. On the following graph, use the blue points (circle symbol) to plot Becky's initial production possibilities frontier (PPF). Suppose Becky is currently using combination D, producing one car per day. Her opportunity cost of producing a second car...
Carlos is a skilled toy maker who is able to produce both trains and puzzles. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. On the following graph, use the blue points (circle symbol) to plot Carlos's initial production possibilities frontier (PPF). Suppose Carlos is currently using combination D, producing one train per day. His opportunity cost of producing a second train per day is _______ per...
Hubert is a skilled toy maker who is able to produce both trains and kites. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Suppose Hubert is currently using combination D, producing one train per day. His opportunity cost of producing a second train per day is _________ per day. Now, suppose Hubert is currently using combination C, producing two trains per day. His opportunity...
5. Opportunity cost and production possibilities Ginny is a skilled toy maker who is able to produce both trains and balls. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. On the following graph, use the blue points (circle symbol) to plot Ginny's initial production possibilities frontier (PPF).