Homework Answers
Option D is right.
Points above the PPF can not be achieved with given resources because all points on PPF are most efficient production points means maximum production with given resources is achieved.
so above or right to PPF can not be attained so infeasible.
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1. Points above and to the right of the PPF are: a) not desirable feasible and...
1. Suppose that a point is on the PPF. This point is: a) b) c) d)...
1. Suppose that a point is on the PPF. This point is: a) b) c) d) infeasible and inefficient feasible and efficient infeasible and efficient feasible and inefficient 2. The opportunity cost of attending Brooklyn College: a) b) c) d) includes the cost of books, tuition, and lost earnings includes the cost of books and tuition but not lost earnings includes lost earnings but not the cost of books or tuition does not include the cost of books, tuition, or...
Chapter 2 Homework 1. Points that lie outside (or beyond) the PPF are attainable. ainable. efficient....
Chapter 2 Homework 1. Points that lie outside (or beyond) the PPF are attainable. ainable. efficient. D. ineflficient 2. Which of the following statements is true? less of some other good. to produce goods. another possibilities frontier (PPF). A. In a world of efficiently used scarce B. The law of increasing opportunity costs assumes that all people have the same ability C. Efficiency implies that it is impossible to get more of one good without getting less of D. Even...
Draw a production possibilities frontier curve. Illustrate the set of points that is feasible, the set...
Draw a production possibilities frontier curve. Illustrate the set of points that is feasible, the set of points that is efficient, the set of points that is inefficient, and the set of points that is not feasible. If you prefer not to draw then explain.
The figure above shows a production possibilities frontier (PPF) for a society that makes two goods-pizza...
The figure above shows a production possibilities frontier (PPF) for a society that makes two goods-pizza and wings. For each point in the figure, select the correct button below to show whether the point represents an efficient use of resources, an inefficient use of resources, or is unattainable. Point A: Point B: Point C: Point D: Point F:
On a production possibilities frontier of country, such as Mexico, all points are: Inefficient efficient economic...
On a production possibilities frontier of country, such as Mexico, all points are: Inefficient efficient economic growth. Infeasible
Draw in a paper a production possibility frontier with two products A and B showing increasing...
Draw in a paper a production possibility frontier with two products A and B showing increasing opportunity cost of one product in terms of the other. On the graph, identify the area of feasible outcomes and the area of infeasible outcomes. On the graph, label a point that is efficient and a point that is inefficient. On the graph, illustrate what happen if there is a discovery of a resource needed to make both products A and B, in this...
GRAPHING 31. Draw a PPF for an economy that, when exhausting all given resources, can produce...
GRAPHING 31. Draw a PPF for an economy that, when exhausting all given resources, can produce either 65 tons of steel or 90 tons of cheese. Label three points showing A. maximum productive efficiency, B. improper resource allocation/inefficient production, and C. unattainable levels of output. (7 pts) 32. What does the slope of the PPF represent conceptually? How (mathematically)? Be brief and to the point. Explain using your PPF above. (5 pts)
Points above the CIRP line represent situations where: a. covered interest arbitrage is feasible from the perspective of...
Points above the CIRP line represent situations where: a. covered interest arbitrage is feasible from the perspective of domestic investors and results in the same yield as investing domestically. b. covered interest arbitrage is feasible from the perspective of domestic investors and results in a yield above what is possible domestically. c. covered interest arbitrage is feasible from the perspective of foreign investors and results in a yield above what is possible in their local markets. d. covered interest arbitrage...
Consider a multiple objective problem that has the eight points of Table 6.3 as its feasible regi...
Consider a multiple objective problem that has the eight points
of Table 6.3 as its feasible region Determine which point are
efficient and which are inefficient?
TABLE 6.3 Data of Problem 6-13 Point Z1 ,2 x 18 42-16 0 x 18 43-18 2 17 4 x412 44-201 x 1244191 42 12 x 18 43-19 2 x 12 43-21 1
TABLE 6.3 Data of Problem 6-13 Point Z1 ,2 x 18 42-16 0 x 18 43-18 2 17 4 x412 44-201...
Consider the following LP z= 2x1-x2 st s r 22 0 1. Prove the feasible region of the above LP is c...
Consider the following LP z= 2x1-x2 st s r 22 0 1. Prove the feasible region of the above LP is convex set. (Note: You could not prove using graphical representation) (2 points) 2. Find extreme directions of the feasible region. (2 points)
Consider the following LP z= 2x1-x2 st s r 22 0 1. Prove the feasible region of the above LP is convex set. (Note: You could not prove using graphical representation) (2 points) 2. Find extreme directions...
1. Suppose that a point is on the PPF. This point is: a) b) c) d) infeasible and inefficient feasible and efficient infeasible and efficient feasible and inefficient 2. The opportunity cost of attending Brooklyn College: a) b) c) d) includes the cost of books, tuition, and lost earnings includes the cost of books and tuition but not lost earnings includes lost earnings but not the cost of books or tuition does not include the cost of books, tuition, or...
Chapter 2 Homework 1. Points that lie outside (or beyond) the PPF are attainable. ainable. efficient. D. ineflficient 2. Which of the following statements is true? less of some other good. to produce goods. another possibilities frontier (PPF). A. In a world of efficiently used scarce B. The law of increasing opportunity costs assumes that all people have the same ability C. Efficiency implies that it is impossible to get more of one good without getting less of D. Even...
The figure above shows a production possibilities frontier (PPF) for a society that makes two goods-pizza and wings. For each point in the figure, select the correct button below to show whether the point represents an efficient use of resources, an inefficient use of resources, or is unattainable. Point A: Point B: Point C: Point D: Point F:
On a production possibilities frontier of country, such as Mexico, all points are: Inefficient efficient economic growth. Infeasible
GRAPHING 31. Draw a PPF for an economy that, when exhausting all given resources, can produce either 65 tons of steel or 90 tons of cheese. Label three points showing A. maximum productive efficiency, B. improper resource allocation/inefficient production, and C. unattainable levels of output. (7 pts) 32. What does the slope of the PPF represent conceptually? How (mathematically)? Be brief and to the point. Explain using your PPF above. (5 pts)
Consider a multiple objective problem that has the eight points
of Table 6.3 as its feasible region Determine which point are
efficient and which are inefficient?
TABLE 6.3 Data of Problem 6-13 Point Z1 ,2 x 18 42-16 0 x 18 43-18 2 17 4 x412 44-201 x 1244191 42 12 x 18 43-19 2 x 12 43-21 1
TABLE 6.3 Data of Problem 6-13 Point Z1 ,2 x 18 42-16 0 x 18 43-18 2 17 4 x412 44-201...
Consider the following LP z= 2x1-x2 st s r 22 0 1. Prove the feasible region of the above LP is convex set. (Note: You could not prove using graphical representation) (2 points) 2. Find extreme directions of the feasible region. (2 points)
Consider the following LP z= 2x1-x2 st s r 22 0 1. Prove the feasible region of the above LP is convex set. (Note: You could not prove using graphical representation) (2 points) 2. Find extreme directions...
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