Homework Answers
The opportunity cost is the loss of potential gain from other alternative when one alternative is chosen.
In this question,the economy is currently at point C, where 60 bottles of Tequila and 40 units of tacos are produced.
Now ,it needs to move to point D which need 40 bottles of Tequila and 40 units of Tacos to be produced.
So, the opportunity cost of moving from point C to point D is ------
20 bottles of Tequila
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If the economy is currently at point C, what is the opportunity cost of increasing the...
As the economy moves from point B to point F, producing more and more tacos, the...
As the economy moves from point B to point F, producing more and more tacos, the opportunity cost in terms of tequilla is (This question refers to the PPF diagram - click on it to make it larger.) Tequila 40 80 120 160 Tacos constant decreasing increasing unable to be measured
Given that this economy is already producing 60 bottles of tequila, what is the largest amount...
Given that this economy is already producing 60 bottles of tequila, what is the largest amount of tacos it can produce? Tequila 40 80 120 160 Tacos
The fact of increasing opportunity cost when moving on the PPF means that Select one: O...
The fact of increasing opportunity cost when moving on the PPF means that Select one: O A. when the government forces a movement from one point on the PPF to another point, no production is lost. B. the PPF will be a negatively sloped straight line. O C. to increase the production of one product requires larger and larger sacrifices of the other good. O D. to decrease the production of one product requires smaller and smaller sacrifices of the...
Identify the opportunity cost of an additional tablet device as the economy moves from Point A...
Identify the opportunity cost of an additional tablet device as the economy moves from Point A to Point B, and then also from Point C to Point D. Additionally, identify the opportunity cost of an additional smartphone as the economy moves from Point E to Point D, and then also from Point C to Point B. Explain whether your observations are consistent with the shape of this PPF. 2 60 E 40 30ト . , , , D: 20 L...
uantity of rubber band balls Attempt In the figure is the production possibility frontier (PPF) for...
uantity of rubber band balls Attempt In the figure is the production possibility frontier (PPF) for a society, Rubberland. On a given day, the society can produce according to the PPF shown and only makes rubber band balls and rubber hoses. Suppose the economy is currently producing at point A. A large carthquake destroys many of the factories in the region where hoses and rubber band balls are produced. Shift the PPF by moving the endpoints in the desired directions...
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...
(1) Clearly define "opportunity cost". Provide an appropriate example to illustrate your definition (2) What is...
(1) Clearly define "opportunity cost". Provide an appropriate example to illustrate your definition (2) What is the "Production Possibilities Frontier (PPF)? 1. Look at the PPF given below, and answer the following questions with succinct explanations. 45 35 30 25 20 15 10 10 20 30 40 50 60 70 80 notepads (3) If this economy devotes all of its resources to the production of notepads, then it will produce 0 notepads and 40 lamps 35 notepads and 20 lamps....
A production possibilities table for DVDs and computers is shown below. Point (Click to select) G F D B C A is an example...
A production possibilities table for DVDs and computers is shown
below.
Point (Click to
select) G F D B C A is
an example of an inefficient point, while (Click to
select) G B A D F C is
an example of an unattainable point.
b. Does the economy above demonstrate the law of increasing
opportunity cost?
(Click to
select) Yes No
Production Alternatives Type of Production A Computers DVDs 20 60 80 80 70 35 a. Show these data graphically, and then identify a point that indicates an inefficient use of resources and a point that indicates...
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...
Valerie can read 30 pages of economics in an hour. She can also read 20 pages...
Valerie can read 30 pages of economics in an hour. She can also read 20 pages of philosophy in an hour. She spends 6 hours per day studying. Use the blue line (circle symbol) to draw Valerie's production possibilities frontier (PPF) for reading economics and philosophy. PPF 0 20 40 60 80 100 120 140 160 180 200 200 180 160 140 120 100 80 60 40 20 0 Economics Pages Philosophy Pages Valerie's opportunity cost of reading 40 pages...
As the economy moves from point B to point F, producing more and more tacos, the opportunity cost in terms of tequilla is (This question refers to the PPF diagram - click on it to make it larger.) Tequila 40 80 120 160 Tacos constant decreasing increasing unable to be measured
Given that this economy is already producing 60 bottles of tequila, what is the largest amount of tacos it can produce? Tequila 40 80 120 160 Tacos
The fact of increasing opportunity cost when moving on the PPF means that Select one: O A. when the government forces a movement from one point on the PPF to another point, no production is lost. B. the PPF will be a negatively sloped straight line. O C. to increase the production of one product requires larger and larger sacrifices of the other good. O D. to decrease the production of one product requires smaller and smaller sacrifices of the...
uantity of rubber band balls Attempt In the figure is the production possibility frontier (PPF) for a society, Rubberland. On a given day, the society can produce according to the PPF shown and only makes rubber band balls and rubber hoses. Suppose the economy is currently producing at point A. A large carthquake destroys many of the factories in the region where hoses and rubber band balls are produced. Shift the PPF by moving the endpoints in the desired directions...
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...
(1) Clearly define "opportunity cost". Provide an appropriate example to illustrate your definition (2) What is the "Production Possibilities Frontier (PPF)? 1. Look at the PPF given below, and answer the following questions with succinct explanations. 45 35 30 25 20 15 10 10 20 30 40 50 60 70 80 notepads (3) If this economy devotes all of its resources to the production of notepads, then it will produce 0 notepads and 40 lamps 35 notepads and 20 lamps....
A production possibilities table for DVDs and computers is shown
below.
Point (Click to
select) G F D B C A is
an example of an inefficient point, while (Click to
select) G B A D F C is
an example of an unattainable point.
b. Does the economy above demonstrate the law of increasing
opportunity cost?
(Click to
select) Yes No
Production Alternatives Type of Production A Computers DVDs 20 60 80 80 70 35 a. Show these data graphically, and then identify a point that indicates an inefficient use of resources and a point that indicates...
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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