Homework Answers
Ans: Any combination on the production possibility frontier that brings the highest level of satisfaction to meet the needs of the people in the economy.
Explanation:
Allocative efficiency refers to the combination of goods a society produces on the PPF that the society most desires.
Thus, the first option is correct.
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Production Possibility Frontier-Country X 9 A 15,7 6 10,6 15,4 18, 2 20, 0 20 5...
Question 14 1 pts Production Possibility Frontier-Country Z 9 A 15,7 6 10,6 15,4 10,4 10...
Question 14 1 pts Production Possibility Frontier-Country Z 9 A 15,7 6 10,6 15,4 10,4 10 15 20 25 Clothing-Daily production A combination of clothing and cell phones that would meet the allocative efficiency would be combination G because it represents the combination with the highest number of cell phones and clothing. combinations B or C because they represent a balanced quantity of cell phones and clothing. any combination on the production possibilities frontier that brings the highest level of...
Production Possibility Frontier-Country X 9 A 15,7 10,6 15, 4 10,4 18, 2 20,0 20 10...
Production Possibility Frontier-Country X 9 A 15,7 10,6 15, 4 10,4 18, 2 20,0 20 10 15 25 MP3 Players Daily production Consider the Production Possibility Frontier for country X producing 2 groups of goods, MP3 players and watches. The opportunity cost of moving from the combination of MP3 players and watches B to C is 2 watches. 4 watches. O 5 MP3 players
Production Possibility Frontier - Country X A B 15,1 10,6 09 Watches daily production с 4...
Production Possibility Frontier - Country X A B 15,1 10,6 09 Watches daily production с 4 F 15,4 10,4 Nw D 18, 2 1 E 0 20,0 20 25 10 15 MP3 Players Daily production Consider the graph of the production possibility frontier for country X. What is a combination of MP3 players and watches that would be inefficient production for country X? ОА О Е OF Question 8 1 pts Market for Used Cars 9000 8000 7000 6000 5000...
Consider the graph of the production possibility frontier for country Z below. A combination of clothing...
Consider the graph of the production possibility frontier for
country Z below. A combination of clothing and cell phones that
would meet the productive efficiency would be:
G
F
E
Production Possibility Frontier - Country Z 9 A 15,7 10,6 15,4 41 10,4 18, 2 漉 20,0 20 15 25 Clothing - Daily production
Production Possibility Frontier-Country Z 9 A 15,7 6 10, 6 10,4 2 18, 2 20,0 10...
Production Possibility Frontier-Country Z 9 A 15,7 6 10, 6 10,4 2 18, 2 20,0 10 15 20 25 Clothing - Daily production Consider the graph of the production possibility frontier for country Z below. A combination of clothing and cell phones that would meet the productive efficiency would be O F O E O G
This year three manufacturers of mattresses have closed shop and there is only one mattress manufacture...
This year three manufacturers of mattresses have closed shop and there is only one mattress manufacture left. With few additional competitors what will likely happen to the supply of mattresses? O The quantity demanded will decrease for mattresses The quantity supplied will increase and cause a decrease in price of mattresses O The quantity supplied will decrease and cause an increase in price of mattresses Production Possibility Frontier-Country X 9 A 15,7 10,6 15, 4 10,4 18, 2 20,0 20...
Question 1 Question 3 At one time, mest of the watches produced in Germany were sold...
Question 1 Question 3 At one time, mest of the watches produced in Germany were sold in Germany. Today, hewever, Germany both experts and imports watches, How could comparative advantage explain these data? The law of diminishing returns states that as additional increments of resources those additional increments_ the marginal bene it from Select the correct answer below Select the correct answer below: It cannot: comparative advantage predicts that a country either exports a product or imports it, not both...
5. Opportunity cost and production possibilities Q Search this course Homework (Ch 02) 0 x k...
5. Opportunity cost and production
possibilities
Q Search this course Homework (Ch 02) 0 x k to Assignment ttempts: Do No Harm: 75 5. Opportunity Ist and production possibilities Maria 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 butput resulting from various possible combinations of her time. Hours Producing (Trains) (Puzzles) Produced (Trains) (Puzzles) Choice ON + o Nw...
2. trade surplus 3. import quota 4. intra-industry trade 5. factor intensity 6. producer surplus II....
2. trade surplus 3. import quota 4. intra-industry trade 5. factor intensity 6. producer surplus II. TRUE OR FALSE? (20%) 1, A production possibilities frontier graphically represents the maximum output of a country when the supply of resources and technology are constant.() 2. Absolute advantage theory shows that two nations could both gain from trade by exporting products in which their labor productivity was higher than that of the other nation. () 3, Mercantilists believed that each nation should try...
Help me check the graph and fill the blanks, thank you! 5. Opportunity cost and production...
Help me check the graph and fill the blanks, thank you!
5. Opportunity cost and production possibilities Kyoko is a skilled toy maker who is able to produce both boats 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. Hours Producing (Boats) (Balls) Produced (Boats) (Balls) Choice A 8 0 4 0 B 6 2 3 8 cover с 4 4 2 14...
Question 14 1 pts Production Possibility Frontier-Country Z 9 A 15,7 6 10,6 15,4 10,4 10 15 20 25 Clothing-Daily production A combination of clothing and cell phones that would meet the allocative efficiency would be combination G because it represents the combination with the highest number of cell phones and clothing. combinations B or C because they represent a balanced quantity of cell phones and clothing. any combination on the production possibilities frontier that brings the highest level of...
Production Possibility Frontier-Country X 9 A 15,7 10,6 15, 4 10,4 18, 2 20,0 20 10 15 25 MP3 Players Daily production Consider the Production Possibility Frontier for country X producing 2 groups of goods, MP3 players and watches. The opportunity cost of moving from the combination of MP3 players and watches B to C is 2 watches. 4 watches. O 5 MP3 players
Production Possibility Frontier - Country X A B 15,1 10,6 09 Watches daily production с 4 F 15,4 10,4 Nw D 18, 2 1 E 0 20,0 20 25 10 15 MP3 Players Daily production Consider the graph of the production possibility frontier for country X. What is a combination of MP3 players and watches that would be inefficient production for country X? ОА О Е OF Question 8 1 pts Market for Used Cars 9000 8000 7000 6000 5000...
Consider the graph of the production possibility frontier for
country Z below. A combination of clothing and cell phones that
would meet the productive efficiency would be:
G
F
E
Production Possibility Frontier - Country Z 9 A 15,7 10,6 15,4 41 10,4 18, 2 漉 20,0 20 15 25 Clothing - Daily production
Production Possibility Frontier-Country Z 9 A 15,7 6 10, 6 10,4 2 18, 2 20,0 10 15 20 25 Clothing - Daily production Consider the graph of the production possibility frontier for country Z below. A combination of clothing and cell phones that would meet the productive efficiency would be O F O E O G
This year three manufacturers of mattresses have closed shop and there is only one mattress manufacture left. With few additional competitors what will likely happen to the supply of mattresses? O The quantity demanded will decrease for mattresses The quantity supplied will increase and cause a decrease in price of mattresses O The quantity supplied will decrease and cause an increase in price of mattresses Production Possibility Frontier-Country X 9 A 15,7 10,6 15, 4 10,4 18, 2 20,0 20...
Question 1 Question 3 At one time, mest of the watches produced in Germany were sold in Germany. Today, hewever, Germany both experts and imports watches, How could comparative advantage explain these data? The law of diminishing returns states that as additional increments of resources those additional increments_ the marginal bene it from Select the correct answer below Select the correct answer below: It cannot: comparative advantage predicts that a country either exports a product or imports it, not both...
5. Opportunity cost and production
possibilities
Q Search this course Homework (Ch 02) 0 x k to Assignment ttempts: Do No Harm: 75 5. Opportunity Ist and production possibilities Maria 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 butput resulting from various possible combinations of her time. Hours Producing (Trains) (Puzzles) Produced (Trains) (Puzzles) Choice ON + o Nw...
2. trade surplus 3. import quota 4. intra-industry trade 5. factor intensity 6. producer surplus II. TRUE OR FALSE? (20%) 1, A production possibilities frontier graphically represents the maximum output of a country when the supply of resources and technology are constant.() 2. Absolute advantage theory shows that two nations could both gain from trade by exporting products in which their labor productivity was higher than that of the other nation. () 3, Mercantilists believed that each nation should try...
Help me check the graph and fill the blanks, thank you!
5. Opportunity cost and production possibilities Kyoko is a skilled toy maker who is able to produce both boats 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. Hours Producing (Boats) (Balls) Produced (Boats) (Balls) Choice A 8 0 4 0 B 6 2 3 8 cover с 4 4 2 14...
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