Homework Answers
Option 1
Explanation: Resources are used efficiently on points on the production possibilities curve. Point D is inside the production possibilities curve, therefore resources are under employed here.
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PS SUVs (millions per year) 56 5 Compact cars (millions per year) The figure above shows...
2 3 4 5 6 Compact cars (millions per year) The figure above shows the production...
2 3 4 5 6 Compact cars (millions per year) The figure above shows the production possibilities frontier for a country. Point D represents a combination of SUVs and Compact cars that is Attainable and inefficient Point B represents a combinatino of SUVs and Compact cars that is Attainable and inefficient Point E represents a combinatino of SUVs and Compact cars that is Unattainable QUESTION 2 10 points Save Answer Skis Snowboards Tony 15 30 Paty 123 Tony and Paty...
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...
Question 57 3.75 pts Exhibit 2-7 Production possibilities curve 400 A Cars 300 (millions per year)...
Question 57 3.75 pts Exhibit 2-7 Production possibilities curve 400 A Cars 300 (millions per year) 200 e 100 0 100 200 300 400 Grain (millions of tons per year) For the economy shown in Exhibit 2-7, which of the following is true when the economy Is at point A? Increased grain production would be impossible More cars are being produced than are needed. There must be resources that are not being used fully Some car production must be forgone...
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...
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...
An economy consists of three workers: Bob, Eric, and Kenji. Each works 10 hours a day and can produce two services: mowing lawns and washing cars.
4. Problems and Applications Q4 An economy consists of three workers: Bob, Eric, and Kenji. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Bob can either mow 2 lawns or wash 1 car; Eric can either mow 1 lawn or wash 1 car; and Kenji can either mow 1 lawn or wash 2 cars. For each of the scenarios listed in the following table, determine how many lawns will be mowed...
4. Problems and Applications Q4 An economy consists of three workers: Carlos, Felix, and Larry. Each...
4. Problems and Applications Q4 An economy consists of three workers: Carlos, Felix, and Larry. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Carlos can either mow 2 lawns or wash 1 car; Felix can either mow 1 lawn or wash 1 car; and Larry can either mow 1 lawn or wash2 cars. For each of the scenarios listed in the following table, determine how many lawns will be...
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....
Cheeseburgers (milions per year) 0 100 200 00 00 00 Puma (millions per year) 13) The...
Cheeseburgers (milions per year) 0 100 200 00 00 00 Puma (millions per year) 13) The above figure shows the production possibility frontier for an economy. The point or points that are attainable and production efficient are points Band points A B and C point points A, B, C, and D points A and D BIUA E E Cool % ^ & 15) Economists use the word "capital to mean A) the tools, instruments, and other produced goods used to...
please help. show the exact points for the graph. 4. Problems and Applications Q4 An economy...
please help. show the exact points for the graph.
4. Problems and Applications Q4 An economy consists of three workers: Van, Carlos, and Felix. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Van can either mow 1 own or wash 1 car; Carlos can either mow 1 lawn or wash 2 cars, and Felix can either mow 2 lawns or wash 1 For each of the scenarios listed in...
2 3 4 5 6 Compact cars (millions per year) The figure above shows the production possibilities frontier for a country. Point D represents a combination of SUVs and Compact cars that is Attainable and inefficient Point B represents a combinatino of SUVs and Compact cars that is Attainable and inefficient Point E represents a combinatino of SUVs and Compact cars that is Unattainable QUESTION 2 10 points Save Answer Skis Snowboards Tony 15 30 Paty 123 Tony and Paty...
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...
Question 57 3.75 pts Exhibit 2-7 Production possibilities curve 400 A Cars 300 (millions per year) 200 e 100 0 100 200 300 400 Grain (millions of tons per year) For the economy shown in Exhibit 2-7, which of the following is true when the economy Is at point A? Increased grain production would be impossible More cars are being produced than are needed. There must be resources that are not being used fully Some car production must be forgone...
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...
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...
4. Problems and Applications Q4 An economy consists of three workers: Carlos, Felix, and Larry. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Carlos can either mow 2 lawns or wash 1 car; Felix can either mow 1 lawn or wash 1 car; and Larry can either mow 1 lawn or wash2 cars. For each of the scenarios listed in the following table, determine how many lawns will be...
Cheeseburgers (milions per year) 0 100 200 00 00 00 Puma (millions per year) 13) The above figure shows the production possibility frontier for an economy. The point or points that are attainable and production efficient are points Band points A B and C point points A, B, C, and D points A and D BIUA E E Cool % ^ & 15) Economists use the word "capital to mean A) the tools, instruments, and other produced goods used to...
please help. show the exact points for the graph.
4. Problems and Applications Q4 An economy consists of three workers: Van, Carlos, and Felix. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Van can either mow 1 own or wash 1 car; Carlos can either mow 1 lawn or wash 2 cars, and Felix can either mow 2 lawns or wash 1 For each of the scenarios listed in...
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