Assume that Guatemala produces either 1000 pounds of coffee or 3000 pounds of sugar in a...
Assume that Guatemala produces either 1000 pounds of coffee or 3000 pounds of sugar in a year. Describe in words what the graph of the PPC would look like. (If you have the capability to upload a graph that you drew feel free to do so)
Homework Answers
PPC is defined as the graph showing the combinations of the two goods produced in the economy efficiently using all the available resources.
This PPC is a straight line
Put sugar on vertical axis & coffee on horizontal .
Then for every one pound of coffee produced, give up 3 pound of sugar, hence opportunity cost of producing coffee in terms of sugar is constant & hence PPC is a linear graph .
PPC 3000 2400 1800 1200 600 coffee (in pounds)
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Assume that Guatemala produces either 1000 pounds of coffee or
3000 pounds of sugar in a...
Guatemala produces either 1000 pounds of coffee or 3000 pounds of sugar in a year. Then...
Guatemala produces either 1000 pounds of coffee or 3000 pounds
of sugar in a year. Then for every one pound of coffee produced,
give up 3 pound of sugar, hence opportunity cost of producing
coffee in terms of sugar is constant & hence PPC is a linear
graph .
Now assume that only one thing has changed. Guatemala switches
its production to new insect-resistant coffee plants. How would you
show this on the PPC? That is, how is this new...
Guatemala produces either 1000 pounds of coffee or 3000 pounds of sugar in a year. Then...
Guatemala produces either 1000 pounds of coffee or 3000 pounds
of sugar in a year. Then for every one pound of coffee produced,
give up 3 pound of sugar, hence opportunity cost of producing
coffee in terms of sugar is constant & hence PPC is a linear
graph .
Going back to the original PPC in the first question, there is
now a new change. New technology in the sugar refining sector has
allowed Guatemala to increase its annual production...
Guatemala produces either 1000 pounds of coffee or 3000 pounds of sugar in a year. Then...
Guatemala produces either 1000 pounds of coffee or 3000 pounds
of sugar in a year. Then for every one pound of coffee produced,
give up 3 pound of sugar, hence opportunity cost of producing
coffee in terms of sugar is constant & hence PPC is a linear
graph.
Going back to the original PPC in the first question, there is
now a new change. An influx of immigrants has allowed all sectors
of the economy to increase employment. How would...
A country imports 5 million pounds of sugar per year and domestically produces another 5 million...
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please only do problem d e and f thanks! 1) The United States sugar industry has enjoyed trade protection for several y...
please only do problem d e and f
thanks!
1) The United States sugar industry has enjoyed trade protection for several years. As a result, sugar prices in the U.S. are higher than the average world price. Suppose that the domestic demand and domestic supply for sugar are as provided in the table below (assume continuous, linear domestic demand and supply curves which include the following data points for sugar): | Price ($ per Quantity Demanded Domestically Quantity Supplied Domestically...
1. Sketch indifference curves for each of the following consumers for a day’s worth of coffee...
1. Sketch indifference curves for each of the following consumers for a day’s worth of coffee and food, and describe why the indifference curves take the shape they do. Draw the indifference curves as how they would look if the drank a range of 0 to 4 cups. a. Ron treats coffee and food as ordinary goods, but is neutral to coffee beyond 3 cups. b. For Gareth, food is always an ordinary good where more is better; however, coffee...
Please include units on any mathematical expressions. I have trouble following along without them...
please include units on any mathematical expressions.
I have trouble following along without them.
appreciate it! thank you
Do you remember the good old days, 10 15 years ago, when you needed a particular piece of furniture to hide your TV? These TVs literally had an electron gun, and were producing the image be steering electrons on a phosphorescent screen. Do you still have one of these old TVs that are about 2 feet deep (I do!). Why were these...
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Guatemala produces either 1000 pounds of coffee or 3000 pounds
of sugar in a year. Then for every one pound of coffee produced,
give up 3 pound of sugar, hence opportunity cost of producing
coffee in terms of sugar is constant & hence PPC is a linear
graph .
Now assume that only one thing has changed. Guatemala switches
its production to new insect-resistant coffee plants. How would you
show this on the PPC? That is, how is this new...
Guatemala produces either 1000 pounds of coffee or 3000 pounds
of sugar in a year. Then for every one pound of coffee produced,
give up 3 pound of sugar, hence opportunity cost of producing
coffee in terms of sugar is constant & hence PPC is a linear
graph .
Going back to the original PPC in the first question, there is
now a new change. New technology in the sugar refining sector has
allowed Guatemala to increase its annual production...
Guatemala produces either 1000 pounds of coffee or 3000 pounds
of sugar in a year. Then for every one pound of coffee produced,
give up 3 pound of sugar, hence opportunity cost of producing
coffee in terms of sugar is constant & hence PPC is a linear
graph.
Going back to the original PPC in the first question, there is
now a new change. An influx of immigrants has allowed all sectors
of the economy to increase employment. How would...
2. Identifying symptoms of the Dutch Disease Consider the economy of Brazil, which produces coffee and medical equipment that are sold both domestically and internationally. Suppose an Increase in foreign income causes an increase in the world demand for coffee, whereas the supply does not change. The following graph shows the market for coffee in Brazil. Adjust the following graph to show the effect of a higher demand for coffee on the economy of Brazil Note: Select and drag one...
please only do problem d e and f
thanks!
1) The United States sugar industry has enjoyed trade protection for several years. As a result, sugar prices in the U.S. are higher than the average world price. Suppose that the domestic demand and domestic supply for sugar are as provided in the table below (assume continuous, linear domestic demand and supply curves which include the following data points for sugar): | Price ($ per Quantity Demanded Domestically Quantity Supplied Domestically...
please include units on any mathematical expressions.
I have trouble following along without them.
appreciate it! thank you
Do you remember the good old days, 10 15 years ago, when you needed a particular piece of furniture to hide your TV? These TVs literally had an electron gun, and were producing the image be steering electrons on a phosphorescent screen. Do you still have one of these old TVs that are about 2 feet deep (I do!). Why were these...
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