![shirt? 2.) The following table shows several points on a small economys production possibilities boundary Production of Coffee (in tons) Production of Cars (in thousands) 115 95 70 40 Point (a) [1 point] Starting from point B, what is the opportunity cost of producing 2,000 more cars? (b) [1 point] Starting from point D, what is the opportunity cost of producing 2,000 more cars?](http://img.homeworklib.com/questions/09035a50-7264-11ea-b32f-f5e9880b18c7.png?x-oss-process=image/resize,w_560)
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shirt? 2.) The following table shows several points on a small economy's production possibilities boundary...
otal of S hours to devote to ironing shirts and polishing shoes. In past weeks, he...
otal of S hours to devote to ironing shirts and polishing shoes. In past weeks, he has used 3 hours for ironing shirts and 2 hours for polishing shoes. Shoes polished 10 18 24 28 30 Hours per week Shirts ironed 15 28 39 48 Hours per week (a) (2 points) If he chooses to devote a fourth hour to ironing shirts, what is the opportunity cost of doing so? (b) (1 point) If he chooses to devote a fourth...
Below is a production possibilities table for cars an corn in a small town. Good produced...
Below is a production possibilities table for cars an corn in a small town. Good produced Cars Corn (tons) Production Alternatives А ТВ Тc TD 0 6 12 18 50 45 35 L 20 24 0 a. Graph a production possibilities curve/frontier for this town. b. Does this PPF demonstrate the law of increasing opportunity costs? Why or why not? C. If the economy is at point B, what is the opportunity cost of producing 6 more cars? What is...
urgent please Production Possibilities Analysis The table below is a set of hypothetical production possibilities for...
urgent please
Production Possibilities Analysis The table below is a set of hypothetical production possibilities for a nation. . Automobiles Beef Combination (thousands) (thousands of tons) 10 4 0 9-4 10 a. Plot these production possibilities data. What is. the opportunity cost of the first 2,000 automobiles produced? Between which points is the oppor- tunity cost per thousand automobiles highest? Between which points is the opportunity cost per thousand tons of beef highest? b. Label a point P inside the...
QUESTION 18 The graph below shows the production possibilities curve for a small city: 1,000 Cars...
QUESTION 18 The graph below shows the production possibilities curve for a small city: 1,000 Cars 50,000 Tons of Agricultural Products The opportunity cost of manufacturing one car in this city is: O 5 tons of agricultural products. 5,000 tons of agricultural products. 50 tons of agricultural products. 500 tons of agricultural products.
In the following table of production possibilities of X and Y: Production Possibilities A B C...
In the following table of production possibilities of X and Y: Production Possibilities A B C D X 18 12 6 0 Y 0 12 24 48 ANSWER THE FOLLOWING QUESTIONS BASED ON THE ABOVE TABLE. WRITE YOUR ANSWERS TO THE NEAREST TWO DECIMAL DIGITS. A) If the economy is at point C, what is the opportunity cost (in absolute value) of producing one more unit of X? Answer for part 1 B) What is the opportunity cost (in absolute...
The figure shows an economy's production possibilities frontier and identifies some production points. Cars (thousands per...
The figure shows an economy's production possibilities frontier and identifies some production points. Cars (thousands per week) Which points are efficient? Qoo •F G O A. Points A, B, and C only O B. Points Fand G only O C. Points A, B, C, D, and E OD. Points D and only O E. Points A, B, C, F, and G •DE Which points are inefficient? O A. Points D and only OB. Points A, B, and only O C....
The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing and...
The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing and coal. The black points (cross symbols) represent three possible output levels in a given month. (Hint: You can click on the points to see their exact coordinates.) Refer to the following graph to answer the questions that follow. 32 28 24 PPF 20 + B CLOTHING (Millions of garments) 16 + 12 4 0 0 100 200 600 700 800 300 400 500 COAL...
The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing and...
The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing and steel. The black points symbols) represent three possible output levels in a given month. You can click on the points to see their exact coordinates Graph 1 32 28 24 PF 16 100 200 300 400 500 600 700 800 STEEL (Millions of tons) Suppose the economy initially produces 12,000 garments of clothing and 500 million tons of steel, which is represented by point...
The following graph shows the production possibilities frontier (PPF) of an economy that produces drinking water...
The following graph shows the production possibilities frontier (PPF) of an economy that produces drinking water and oil. Points A, B, and C (X symbols) represent three possible output levels in a given month. You can place your mouse over the points to see their exact coordinates. DRINKING WATER Millions of gallons per month 800 0 10 20 30 40 50 60 70 80 OIL (Thousands of barrels per month! Help Clear All Suppose the economy initially produces 540 million...
otal of S hours to devote to ironing shirts and polishing shoes. In past weeks, he has used 3 hours for ironing shirts and 2 hours for polishing shoes. Shoes polished 10 18 24 28 30 Hours per week Shirts ironed 15 28 39 48 Hours per week (a) (2 points) If he chooses to devote a fourth hour to ironing shirts, what is the opportunity cost of doing so? (b) (1 point) If he chooses to devote a fourth...
Below is a production possibilities table for cars an corn in a small town. Good produced Cars Corn (tons) Production Alternatives А ТВ Тc TD 0 6 12 18 50 45 35 L 20 24 0 a. Graph a production possibilities curve/frontier for this town. b. Does this PPF demonstrate the law of increasing opportunity costs? Why or why not? C. If the economy is at point B, what is the opportunity cost of producing 6 more cars? What is...
urgent please
Production Possibilities Analysis The table below is a set of hypothetical production possibilities for a nation. . Automobiles Beef Combination (thousands) (thousands of tons) 10 4 0 9-4 10 a. Plot these production possibilities data. What is. the opportunity cost of the first 2,000 automobiles produced? Between which points is the oppor- tunity cost per thousand automobiles highest? Between which points is the opportunity cost per thousand tons of beef highest? b. Label a point P inside the...
QUESTION 18 The graph below shows the production possibilities curve for a small city: 1,000 Cars 50,000 Tons of Agricultural Products The opportunity cost of manufacturing one car in this city is: O 5 tons of agricultural products. 5,000 tons of agricultural products. 50 tons of agricultural products. 500 tons of agricultural products.
The figure shows an economy's production possibilities frontier and identifies some production points. Cars (thousands per week) Which points are efficient? Qoo •F G O A. Points A, B, and C only O B. Points Fand G only O C. Points A, B, C, D, and E OD. Points D and only O E. Points A, B, C, F, and G •DE Which points are inefficient? O A. Points D and only OB. Points A, B, and only O C....
The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing and coal. The black points (cross symbols) represent three possible output levels in a given month. (Hint: You can click on the points to see their exact coordinates.) Refer to the following graph to answer the questions that follow. 32 28 24 PPF 20 + B CLOTHING (Millions of garments) 16 + 12 4 0 0 100 200 600 700 800 300 400 500 COAL...
The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing and steel. The black points symbols) represent three possible output levels in a given month. You can click on the points to see their exact coordinates Graph 1 32 28 24 PF 16 100 200 300 400 500 600 700 800 STEEL (Millions of tons) Suppose the economy initially produces 12,000 garments of clothing and 500 million tons of steel, which is represented by point...
The following graph shows the production possibilities frontier (PPF) of an economy that produces drinking water and oil. Points A, B, and C (X symbols) represent three possible output levels in a given month. You can place your mouse over the points to see their exact coordinates. DRINKING WATER Millions of gallons per month 800 0 10 20 30 40 50 60 70 80 OIL (Thousands of barrels per month! Help Clear All Suppose the economy initially produces 540 million...
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