Homework Answers
3. The Production Possibility Frontier (PPF) that represents the production possibilities for goods X and Y if there are constant opportunity cost is drawn below:
Here, the Production Possibility Frontier (PPF) is a straight line since the opportunity cost is constant where we move from one good to another good and hence the slope of the line is also constant. The slope of the line is constant only when the line is a straight line and not a curved line.
The Production Possibility Frontier (PPF) that represents advancement in technology that makes it possible to produce more of X but not more of Y is drawn below:
Where there is a technological advancement where we can produce more of X but not more of Y, the PPF shifts from line AB to line AC. The production of Y remains constant at A but with the advancement in technology, the production of X shifts from point B to C.
The Production Possibility Frontier (PPF) that represents advancement in technology that makes it possible to produce more of Y but not more of X is drawn below:
Where there is a technological advancement where we can produce more of Y but not more of X, the PPF shifts from line BC to line AC. The production of X remains constant at C but with the advancement in technology, the production of Y shifts from point B to point A.
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macroeconomics 13
3. Draw a PPF that represents the production possibilities for goods X and Y...
Please help! 6. In the production possibilities framework, economic growth is depicted by the PPF a...
Please help!
6. In the production possibilities framework, economic growth is depicted by the PPF a shift outward in the PPF O a shift inward in the PPF O the slope of the PPF becoming steeper O a movement from one point along the PPF to another point along the same PPF O none of the above 7. Jose has one evening in which to prepare for two exams and can employ two possible strategies: Score in Economics Score in....
A the production possibilities frontier (PPF) is bowed outward as a result of 1)constant opportunity costs....
A the production possibilities frontier (PPF) is bowed outward as a result of 1)constant opportunity costs. 2)increasing opportunity costs. 3)decreasing opportunity costs. 4)scarcity. 5)choice.
Use the production possibilities frontier (PPF) to demonstrate economic growth. 1. With consumption goods on one...
Use the production possibilities frontier (PPF) to demonstrate economic growth. 1. With consumption goods on one axis and capital goods on the other, show how the combination of goods selected this period affects the PPF in the next period. 2. Extend this comparison by choosing a different point on this period’s PPF and determining whether that combination leads to more or less growth over the next period.
Consider two points on the production possibilities frontier point X, at which there are 100 cars...
Consider two points on the production possibilities frontier point X, at which there are 100 cars and 78 trucks, an point Y, at which there are 90 cars and 70 trucks. If the economy is currently at point X the opportunity cost of moving to point Y is? a. 12 cars. b. I trucks. c. 10 cars. d. 79 trucks. e, none of the above. 12. The production possibilities frontier represents the possible combinations of two goods that an economy...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products,...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the PPF in the graph. Point A on the PPF represents the combination of the two goods Rubberland currently produces. When a new method of rubb productivity of all Rubberland's inputs increases. Please shift the PPF to show this change Assume that Rubberland does not make more rubber band...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products,...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the PPF in the graph. Point A on the PPF represents the combination of the two goods Rubberland currently produces. When a new method of rubber processing is discovered, the productivity of all Rubberland's inputs increases. Please shift the PPF to show this change. Assume that Rubberland does not...
0 The figure given below represents the production possibilities curve for goods and services in an...
0 The figure given below represents the production possibilities curve for goods and services in an economy 0 Figure 2.3 0 • Curvey • Curve X • • Services • cess ) O Refer to Figure 2.3. The movement from Curve X to Curve Y indicates O a contraction in the production of services OR YOU b. expansion in the ability to produce goods. Tools O c. expansion in the ability to produce services. d. contraction in the production of...
The figure above shows a production possibilities frontier (PPF) for a society that makes two goods-pizza...
The figure above shows a production possibilities frontier (PPF) for a society that makes two goods-pizza and wings. For each point in the figure, select the correct button below to show whether the point represents an efficient use of resources, an inefficient use of resources, or is unattainable. Point A: Point B: Point C: Point D: Point F:
Hi, please draw the initial PPF and new PPF in the graph and don't forget to...
Hi, please draw the initial PPF
and new PPF in the graph and don't forget to specify the right
number for graph line, and check my answers if they are correct and
if not please correct them. Thank you.
11. Opportunity cost and production possibilities Susan is a skilled toy maker who is able to produce both boats and puzzles. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible...
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...
Please help!
6. In the production possibilities framework, economic growth is depicted by the PPF a shift outward in the PPF O a shift inward in the PPF O the slope of the PPF becoming steeper O a movement from one point along the PPF to another point along the same PPF O none of the above 7. Jose has one evening in which to prepare for two exams and can employ two possible strategies: Score in Economics Score in....
Consider two points on the production possibilities frontier point X, at which there are 100 cars and 78 trucks, an point Y, at which there are 90 cars and 70 trucks. If the economy is currently at point X the opportunity cost of moving to point Y is? a. 12 cars. b. I trucks. c. 10 cars. d. 79 trucks. e, none of the above. 12. The production possibilities frontier represents the possible combinations of two goods that an economy...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the PPF in the graph. Point A on the PPF represents the combination of the two goods Rubberland currently produces. When a new method of rubb productivity of all Rubberland's inputs increases. Please shift the PPF to show this change Assume that Rubberland does not make more rubber band...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the PPF in the graph. Point A on the PPF represents the combination of the two goods Rubberland currently produces. When a new method of rubber processing is discovered, the productivity of all Rubberland's inputs increases. Please shift the PPF to show this change. Assume that Rubberland does not...
0 The figure given below represents the production possibilities curve for goods and services in an economy 0 Figure 2.3 0 • Curvey • Curve X • • Services • cess ) O Refer to Figure 2.3. The movement from Curve X to Curve Y indicates O a contraction in the production of services OR YOU b. expansion in the ability to produce goods. Tools O c. expansion in the ability to produce services. d. contraction in the production of...
The figure above shows a production possibilities frontier (PPF) for a society that makes two goods-pizza and wings. For each point in the figure, select the correct button below to show whether the point represents an efficient use of resources, an inefficient use of resources, or is unattainable. Point A: Point B: Point C: Point D: Point F:
Hi, please draw the initial PPF
and new PPF in the graph and don't forget to specify the right
number for graph line, and check my answers if they are correct and
if not please correct them. Thank you.
11. Opportunity cost and production possibilities Susan is a skilled toy maker who is able to produce both boats and puzzles. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible...
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...
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