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QUESTION 18 The graph below shows the production possibilities curve for a small city: 1,000 Cars...
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...
#2 shirt? 2.) The following table shows several points on a small economy's production possibilities boundary...
#2
shirt? 2.) The following table shows several points on a small economy's production possibilities boundary Production of Coffee (in tons) Production of Cars (in thousands) 115 95 70 40 Point (a) [1 point] Starting from point B, what is the opportunity cost of producing 2,000 more cars? (b) [1 point] Starting from point D, what is the opportunity cost of producing 2,000 more cars?
The graph below shows Tanya’s weekly production possibilities frontier for doing homework (writing papers and doing...
The graph below shows Tanya’s
weekly production possibilities frontier for doing homework
(writing papers and doing problem sets). The vertical intercept
(point A) is 8, and the horizontal intercept (point B) is 4.
a. The slope of the production possibilities frontier is .
b. The opportunity cost of doing one problem set is .
c. The opportunity cost of writing one paper is .
Production possibilities frontier Problem sets PPF Papers
Question 10 2 pts Question 11 1 pts The figure below shows the production possibilities frontiers...
Question 10 2 pts Question 11 1 pts The figure below shows the production possibilities frontiers of countries X and Y. The points on each axis represent the maximum quantities that each country could produce if they specialized entirely in one good or the other. According to this graph, the opportunity cost of producing a ton of wheat is... The figure below shows the production-possibilities frontiers of countries X and Y. The points on each axis represent the maximum quantities...
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 coal. The black points (cross symbols) represent three possible output levels in a given month. (Hint: You can click on the points to see their exact coordinates.) Refer to the following graph to answer the questions that follow. 32 28 24 PPF 20 + B CLOTHING (Millions of garments) 16 + 12 4 0 0 100 200 600 700 800 300 400 500 COAL...
Using the following production possibilities table for Cars and Guided Missiles answer the questions below: Type...
Using the following production possibilities table for Cars and Guided Missiles answer the questions below: Type of Product A B C D E Cars (In millions) 0 2 4 6 8 Guided Missiles (In thousands) 30 27 21 12 0 (a) Graph the data in the table. Are there constant or increasing costs for the production of missiles? (2 marks) (b) If the economy is currently at the point C: What is the cost of one million more cars?...
4. Shifts in production possibilities Suppose Canada produces two types of goods: agricultural and capital. The...
4. Shifts in production possibilities Suppose Canada produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and cars, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of an immigration law that results in fewer workers entering the country. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints...
In the accompanying graph construct a production possibilities curve for a nation with the following maximum...
In the accompanying graph construct a production possibilities curve for a nation with the following maximum output combinations. The Production Possibilities Curve Food ideo Games 0 10 10 16 19 1.) Using the point drawing tool, plot the four output combinations from the table above. Properly label each point. 2.) Using the 4-point curved Nne drewing tool, draw a curve connecting these points. Label this curve Carefuly towow the instructions above, and only draw the required abjects The shape of...
2. Problems and Applications Q2 An American worker can produce either 5 cars or 9 tons...
2. Problems and Applications Q2 An American worker can produce either 5 cars or 9 tons of grain a year. A Japanese worker can produce either 3 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers. Complete the following table with the number of workers needed to make one car or 1 ton of grain in the United States and Japan. Workers Needed to Make 1 Car 1 Ton...
1.4 Creating and Interpreting a Production Possibilities Curve Your task: using the data below, construct the...
1.4 Creating and Interpreting a Production Possibilities Curve Your task: using the data below, construct the production possibilities curve for the hypothetical country of Michigania The country produces only two products: caps and balls (yes, they love sports in Michigania). Next, answer the questions that follow Production Possibility Number of caps (In milion) Number of balls (n millions 35 50 65 sO 68 54 35 You can draw this by hand, or you can use Word Art to label the...
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...
#2
shirt? 2.) The following table shows several points on a small economy's production possibilities boundary Production of Coffee (in tons) Production of Cars (in thousands) 115 95 70 40 Point (a) [1 point] Starting from point B, what is the opportunity cost of producing 2,000 more cars? (b) [1 point] Starting from point D, what is the opportunity cost of producing 2,000 more cars?
The graph below shows Tanya’s
weekly production possibilities frontier for doing homework
(writing papers and doing problem sets). The vertical intercept
(point A) is 8, and the horizontal intercept (point B) is 4.
a. The slope of the production possibilities frontier is .
b. The opportunity cost of doing one problem set is .
c. The opportunity cost of writing one paper is .
Production possibilities frontier Problem sets PPF Papers
Question 10 2 pts Question 11 1 pts The figure below shows the production possibilities frontiers of countries X and Y. The points on each axis represent the maximum quantities that each country could produce if they specialized entirely in one good or the other. According to this graph, the opportunity cost of producing a ton of wheat is... The figure below shows the production-possibilities frontiers of countries X and Y. The points on each axis represent the maximum quantities...
The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing and coal. The black points (cross symbols) represent three possible output levels in a given month. (Hint: You can click on the points to see their exact coordinates.) Refer to the following graph to answer the questions that follow. 32 28 24 PPF 20 + B CLOTHING (Millions of garments) 16 + 12 4 0 0 100 200 600 700 800 300 400 500 COAL...
4. Shifts in production possibilities Suppose Canada produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and cars, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of an immigration law that results in fewer workers entering the country. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints...
In the accompanying graph construct a production possibilities curve for a nation with the following maximum output combinations. The Production Possibilities Curve Food ideo Games 0 10 10 16 19 1.) Using the point drawing tool, plot the four output combinations from the table above. Properly label each point. 2.) Using the 4-point curved Nne drewing tool, draw a curve connecting these points. Label this curve Carefuly towow the instructions above, and only draw the required abjects The shape of...
2. Problems and Applications Q2 An American worker can produce either 5 cars or 9 tons of grain a year. A Japanese worker can produce either 3 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers. Complete the following table with the number of workers needed to make one car or 1 ton of grain in the United States and Japan. Workers Needed to Make 1 Car 1 Ton...
1.4 Creating and Interpreting a Production Possibilities Curve Your task: using the data below, construct the production possibilities curve for the hypothetical country of Michigania The country produces only two products: caps and balls (yes, they love sports in Michigania). Next, answer the questions that follow Production Possibility Number of caps (In milion) Number of balls (n millions 35 50 65 sO 68 54 35 You can draw this by hand, or you can use Word Art to label the...
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