Homework Answers
Ans) the correct option is B) combinations of bicycles and computers that society can produce by using its resources efficiently.
PPC shows the combination of two goods that can be produced using the given resources in a specific period of time. Points that lie on the PPC are efficient. Points inside the PPC are attainable but not efficient. Points outside the PPC are unattainable.
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Use the following to answer question 2: 14 12 0 2 4 6 8 10 Computers...
Use the following graph to answer questions 1 and 2: Food Clothing 1. The combination of...
Use the following graph to answer questions 1 and 2: Food Clothing 1. The combination of food and clothing shown by point G on the above graph: A) is not attainable, given society's available resources and technology. B) can be attained only if some of society's resources are unemployed. C) suggests that the law of increasing relative costs is not relevant in this case. D) results only because society allocates its resources inefficiently. 2. The figure above shows the production...
just need to check 1 and 3 4: Production Possibilities Schedule Combination Cars Bicycles 220 200...
just need to check 1 and 3
4: Production Possibilities Schedule Combination Cars Bicycles 220 200 165 100 The opportunity cost of the second car is a. 20 bicycles. b. 30 С. 35 d. 55 The above production possibilities schedule illustrates: a. decreasing opportunity cost. b. increasing opportunity cost. c. constant opportunity cost. d. a direct relationship between the production of cars and bicycles. Producing a combination of 2 cars and 180 bicycles: a. indicates that this economy cannot experience...
Computers Cars Output Combination A 200 Output Combination B 190 0 10 Output Combination C170 20...
Computers Cars Output Combination A 200 Output Combination B 190 0 10 Output Combination C170 20 Output Combination D 140 Output Combination E 100 40 30 If we were to graph the above production schedule, the PPC would be: upward sloping non-linear representative of increasing opportunity costs representative of interchangeable resources two of the above are correct Question 7 (1 point) Which of the following movements would entail the greatest opportunity cost of expanded car production on the graph above?...
33% D Sun 10:5 Favorites Help . . Sylvia v marks Window learn.sumbedu Chapter 20 Lecture...
33% D Sun 10:5 Favorites Help . . Sylvia v marks Window learn.sumbedu Chapter 20 Lecture rces 7 25. Refer to Figure 2-2. Question Not complete Points out of Production possibilities curve Clothing Food Figure 2-2 When the economy moves from Point A to Point B in the diagram above: Select one: a. the economy begins using its resources efficiently to produce both food and clothing. b. the economy operates at its productive capacity once it reaches Point B. c....
6. 10 points: You are the manager of a midsized company that assembles personal computers Your...
6. 10 points: You are the manager of a midsized company that assembles personal computers Your company's computers are distinctive, but you also realize that there several other firms that produce similar types of computers. Your industry is characterized by firms entering and exiting, in part due to market conditions. You have estimated that the demand function for your company's main computer productis Qld) = 1,000 - 2P while your cost function is (Q) - 500+ 200 + 5Q^2. a...
Baseballs 150--- 100-P 50 100 200300 0 Bananas 9. Refer to Figure 2-6. What is the...
Baseballs 150--- 100-P 50 100 200300 0 Bananas 9. Refer to Figure 2-6. What is the opportunity cost to society of the movement from point A to point C? a. 50 baseballs b. 100 baseballs c. 100 bananas d. 300 bananas Refer to Figure 2-6. If this economy put all available resources into the production of bananas, it could produce a. 200 bananas and also 150 baseballs. b. 300 bananas and also 100 baseballs. c. 400 bananas and no baseballs....
Choice Hours Producing (Trains) (Puzzles) Produced (Trains) (Puzzles) 10 6 4 2 0 2 4 6...
Choice Hours Producing (Trains) (Puzzles) Produced (Trains) (Puzzles) 10 6 4 2 0 2 4 6 3 2 1 19 20 E 8 0 On the following graph, use the blue points (circle symbol) to plot Larry's initial production possibilities from Initial PPF New PPF PUZZLES 0 1 2 3 TRAINS Suppose Larry is currently using combination D, producing one train per day. His opportunity cost of producing a second train per day is per day 1 puzzle Larry is...
Figure 2-1 4) Refer to Figure 2-1. Point A is A) technically efficient. B) unattainable with...
Figure 2-1 4) Refer to Figure 2-1. Point A is A) technically efficient. B) unattainable with current resources. C) inefficient in that not all resources are being used. D) the equilibrium output combination. 5) Refer to Figure 2-1. Point B is A) technically efficient. B) unattainable with current resources. C) inefficient in that not all resources are being used. D) the equilibrium output combination. 6) Refer to Figure 2-1. Point C is A) technically efficient. B) unattainable with current resources....
P Flag question Figure 2 Trice Sitert 1 2 4 6 8 10 12 14 16...
P Flag question Figure 2 Trice Sitert 1 2 4 6 8 10 12 14 16 quantity Refer to Figure 2. How much tax revenue does this tax produce for the government? Select one: O a. $24 b. $30 O c. $32 d. $56
Use the following information to answer questions 298 30. Assume a consumer purchases 5 pizzas and...
Use the following information to answer questions 298 30. Assume a consumer purchases 5 pizzas and 4 sodas. The price of pizza is $6 and the price of soda is $2. The consumer spends all of their income on pizza and soda. 29. What is the consumer's budget (income) for this problem? a $62b. $26 c. $12 d. $38 30. If the consumer decides to purchase 4 units of pizzas, how much soda will the consumer purchase? A5 B.6 C....
Use the following graph to answer questions 1 and 2: Food Clothing 1. The combination of food and clothing shown by point G on the above graph: A) is not attainable, given society's available resources and technology. B) can be attained only if some of society's resources are unemployed. C) suggests that the law of increasing relative costs is not relevant in this case. D) results only because society allocates its resources inefficiently. 2. The figure above shows the production...
just need to check 1 and 3
4: Production Possibilities Schedule Combination Cars Bicycles 220 200 165 100 The opportunity cost of the second car is a. 20 bicycles. b. 30 С. 35 d. 55 The above production possibilities schedule illustrates: a. decreasing opportunity cost. b. increasing opportunity cost. c. constant opportunity cost. d. a direct relationship between the production of cars and bicycles. Producing a combination of 2 cars and 180 bicycles: a. indicates that this economy cannot experience...
Computers Cars Output Combination A 200 Output Combination B 190 0 10 Output Combination C170 20 Output Combination D 140 Output Combination E 100 40 30 If we were to graph the above production schedule, the PPC would be: upward sloping non-linear representative of increasing opportunity costs representative of interchangeable resources two of the above are correct Question 7 (1 point) Which of the following movements would entail the greatest opportunity cost of expanded car production on the graph above?...
33% D Sun 10:5 Favorites Help . . Sylvia v marks Window learn.sumbedu Chapter 20 Lecture rces 7 25. Refer to Figure 2-2. Question Not complete Points out of Production possibilities curve Clothing Food Figure 2-2 When the economy moves from Point A to Point B in the diagram above: Select one: a. the economy begins using its resources efficiently to produce both food and clothing. b. the economy operates at its productive capacity once it reaches Point B. c....
6. 10 points: You are the manager of a midsized company that assembles personal computers Your company's computers are distinctive, but you also realize that there several other firms that produce similar types of computers. Your industry is characterized by firms entering and exiting, in part due to market conditions. You have estimated that the demand function for your company's main computer productis Qld) = 1,000 - 2P while your cost function is (Q) - 500+ 200 + 5Q^2. a...
Baseballs 150--- 100-P 50 100 200300 0 Bananas 9. Refer to Figure 2-6. What is the opportunity cost to society of the movement from point A to point C? a. 50 baseballs b. 100 baseballs c. 100 bananas d. 300 bananas Refer to Figure 2-6. If this economy put all available resources into the production of bananas, it could produce a. 200 bananas and also 150 baseballs. b. 300 bananas and also 100 baseballs. c. 400 bananas and no baseballs....
Choice Hours Producing (Trains) (Puzzles) Produced (Trains) (Puzzles) 10 6 4 2 0 2 4 6 3 2 1 19 20 E 8 0 On the following graph, use the blue points (circle symbol) to plot Larry's initial production possibilities from Initial PPF New PPF PUZZLES 0 1 2 3 TRAINS Suppose Larry is currently using combination D, producing one train per day. His opportunity cost of producing a second train per day is per day 1 puzzle Larry is...
P Flag question Figure 2 Trice Sitert 1 2 4 6 8 10 12 14 16 quantity Refer to Figure 2. How much tax revenue does this tax produce for the government? Select one: O a. $24 b. $30 O c. $32 d. $56
Use the following information to answer questions 298 30. Assume a consumer purchases 5 pizzas and 4 sodas. The price of pizza is $6 and the price of soda is $2. The consumer spends all of their income on pizza and soda. 29. What is the consumer's budget (income) for this problem? a $62b. $26 c. $12 d. $38 30. If the consumer decides to purchase 4 units of pizzas, how much soda will the consumer purchase? A5 B.6 C....
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