ZuoTi.Pro
Question

Butter Guns 100 90 50 Given the table above and assume that guns are represented on the Y axis and butter on the X axis. Which of the following question is true. This PPF is a straight line constant cost model. O The opportunity cost of increasing butter from 4 units to 5 units is 5 units of guns. O The opportunity cost of moving from 2 butter to 3 butter is 15 units of guns.

Production Production c Point chocolate bars 0 10 20 30 40 of cola 100 90 70 40 0 The above table shows production points on Sweet-Tooth Lands production possibilities frontier. What is the opportunity cost of one chocolate bar if Sweet-tooth Land moves from point C to point D? 30 cans of cola 10 cans of cola 3 cans of cola 1/3 can of cola

3 2 Bicycles (thousands per month) In the above figure, the curve labeled a is the curve and the curve labeled b is the curve. marginal cost; trade line O production possibilities frontier; trade line marginal benefit trade line marginal cost; marginal benefit

business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

1) The correct option is the third option. The opportunity cost of moving from 2 butter to 3 butter is 15 units of the gun. As the quantity of guns decreases from 90 to 75.

2) Point F represents that the resources to produce office buildings are unused or misallocated. As the point is below the PPF curve which shows that there is under production.

3) The correct option is the third option. The opportunity cost of one chocolate bar if Sweet Truth Land moves from point C to D is 3 cans of cola. As the production of chocolate increases from 20 to 30 and cans of cola decreases from 70 to 40. So opportunity cost for one chocolate bar is 3 [ 30/10].

4)The correct option is the fourth option. The curve labeled 'a' is marginal cost curve and the curve labeled as 'b' is the marginal benefit curve.

0 0
Add a comment
Know the answer?
Add Answer to:
Butter Guns 100 90 50 Given the table above and assume that guns are represented on...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Part 1 Below is a production possibilities table for consumer goods (butter) and capital goods (guns)....

    Part 1 Below is a production possibilities table for consumer goods (butter) and capital goods (guns). Production Possibilities Type of Production Production Alternative A Production Alternative B Production Alternative C Production Alternative D Production Alternative E Production Alternative F Production Alternative G Butter 0 1 2 3 4 5 6 Guns 14 13 11 9 7 4 0 Graph the data provided in the table using Excel. (Hints: Type your data into an Excel spreadsheet. With your mouse, highlight the...

  • 1) Graphically illustrate the table below: Given: Butter Guns MC 0 100 90 2 75 3 55 430 a. Identify the opportunity...

    1) Graphically illustrate the table below: Given: Butter Guns MC 0 100 90 2 75 3 55 430 a. Identify the opportunity cost increasing butter production from 2 to 3 units on the graph. b. Graphically illustrate the Keynesian versus classical position of the economy and their respective opportunity costs (two graphs). Explain the policy implications of these two alternative assumptions of the economy. 1) Graphically illustrate the table below: Given: Butter Guns MC 0 100 90 2 75 3...

  • Table 2.1 Production Possibilities Frontier for the United States Combination A B C D E F...

    Table 2.1 Production Possibilities Frontier for the United States Combination A B C D E F G Vaccine doses (millions) Guns 10,000 19,000 24,000 28,000 30,000 31,000 17. According to the information in Table 2.1, what is the opportunity cost of producing the first one million vaccines? (a) 1,000 guns (b) 30,000 guns (e) 31,000 guns (d) one million vaccines (e) five million vaccines 19. In Table 2.1, opportunity costs (a) Increase as more vaccines are produced (b) A reconstanta...

  • ECON 2301 Ecre to look at the instructor's lecture notes and video over the PPF model...

    ECON 2301 Ecre to look at the instructor's lecture notes and video over the PPF model if you are ge s CA2 Spring 2019 FPC unclear about the questions Guns and Butter PPC 15 K 14 13 12 11 A 10 9 8 7 5 3 2 1 o 1 2 3 4567 8 9 10 11 12 13 14 15 16 17 18 Butter 2. Given the above graph, calculate the following. (Be sure to show your work.) Given...

  • Marginal cost is the opportunity cost of a good or service divided by the number of...

    Marginal cost is the opportunity cost of a good or service divided by the number of units produced. of a good or service that exceeds its benefit. that your activity imposes on someone else. that arises from producing one more unit of a good or service. The law of demand implies that demand curves shift leftward whenever the price rises. slope down. shift rightward whenever the price rises. slope up. If the United States can increase its production of automobiles...

  • Per class discussion, if injections exceed leakages; GDP becomes zero. GDP decreases. GDP increases. GDP remains...

    Per class discussion, if injections exceed leakages; GDP becomes zero. GDP decreases. GDP increases. GDP remains unchanged. The double-coincidence of wants is a problem with: the financial markets. Christmas. barter. money exchanges. Marginal cost is the opportunity cost of a good or service that exceeds its benefit. that arises from producing one more unit of a good or service. that your activity imposes on someone else. of a good or service divided by the number of units produced. The production...

  • Per class discussion, if injections exceed leakages; GDP becomes zero. GDP decreases. GDP increases. GDP remains...

    Per class discussion, if injections exceed leakages; GDP becomes zero. GDP decreases. GDP increases. GDP remains unchanged. The double-coincidence of wants is a problem with: the financial markets. Christmas. barter. money exchanges. Marginal cost is the opportunity cost of a good or service that exceeds its benefit. that arises from producing one more unit of a good or service. that your activity imposes on someone else. of a good or service divided by the number of units produced. The production...

  • 1 Which of the following is true? opportunity cost can be measured by the slope of...

    1 Which of the following is true? opportunity cost can be measured by the slope of the PPC curve (frontier) productive or technical efficiency occurs anywhere on the production possibilities curve allocative efficiency occurs at a specific point (i.e. a specific mix of production) on the production possibilities curve (frontier) that is valued above all alternatives. all of the answers are correct none of the answers are correct 2 The opportunity cost of a good is the same as its...

  • Understanding Production Possibilities Using the following table for a hypothetical economy plot your data on a...

    Understanding Production Possibilities Using the following table for a hypothetical economy plot your data on a graph. Military 110 5 10s o 95 15 80 Consumer 0 60 40 35 50 10 20 60 Suppose the Economy is operating at point B. What is the opportunity cost of 10 additional units of consumer goods? Between which points is the opportunity cost of b producing consumer goods at maximum? A combination of 70 units of military goods and 45 units of...

  • please answer all the questions Introduction to PPC Curves Worksheet package Question 1 (Application 12 Marks)...

    please answer all the questions Introduction to PPC Curves Worksheet package Question 1 (Application 12 Marks) he following table outlines some combinations of com and beef that can be produced annually from a given parcel of farm land: Production possibility Corn (bushels) 16000 Beef(kg) 8000 900 6000 1200 4000 1400 2000 1450 1500 a) Draw a production possibilities curve for this agricultural enterprise (3 marks) b) Can this farm produce 6000 bushels of com and 1500 kg of beef during...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT