Homework Answers
1. The answer is "E & W"
2. The answer is "A, B, C, D"
3. An increase in the education and training of the labour force will least likely to cause the PPF curve to shift right.
Here Efficient point in PPF are those points were resources are fully utilised for production of both goods(in the PPF curve)
Inefficient point( Below PPF curve) reflect underutilisation of resources employed
and Unattainable points (outside PPF curve) reflect more resources required to produce the combination of both goods.
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Exhibit 2-16 Production possibilities curve Consumption goods 0 1 1TVO 2 3 4 5 6 7...
Name: ID: A Exhibit 2-10 Production possibilities curve data Capital goods Consumption goods 23 19 13...
Name: ID: A Exhibit 2-10 Production possibilities curve data Capital goods Consumption goods 23 19 13 1 11. Suppose an economy is faced with the production possibilities table shown in Exhibit 2-10. As additional units of capital goods are being produced, the number of consumption goods produced must because increase; the production possibility table shows only the maximum efficiency points increase; of the law of increasing costs decrease; of the law of increasing costs decrease; of the finite nature of...
Exhibit 2-17 Production possibilities curve Consumption goods Capital goods In Exhibit 2-17, if countries A and...
Exhibit 2-17 Production possibilities curve Consumption goods Capital goods In Exhibit 2-17, if countries A and B currently have the same production possibilities curve (PPC) as given in the figure, but this year country A locates at point A on its PPC and country B locates at point B on its PPC, then country A: a. is more efficient than country B. b. is producing more capital goods than country B. O c. will grow at a faster rate than...
Question 1 10 points Save Exhibit 2.10 Production possibilities curve data co E Capital goods Consumption...
Question 1 10 points Save Exhibit 2.10 Production possibilities curve data co E Capital goods Consumption goods Suppose an economy is faced with the production possibilities table shown in Exhibit 2.10. If this economy chooses the combination of goods at point A only capital goods are being produced every resource in the economy is utilized in the production of capital goods no capital goods are being used as factors of production every resource in the economy is being used in...
Question 8 Exhibit 2-13 Production possibilities curve Consumption goods Capital goods In Exhibit 2-13, the combination...
Question 8 Exhibit 2-13 Production possibilities curve Consumption goods Capital goods In Exhibit 2-13, the combination of goods given by point H could: never be achieved by this economy be achieved today if the economy achieved full employment be achieved today if the economy achieved maximum efficiency. not be achieved today. be achieved today with the proper allocation of resources, A Moving to another question will save this response.
Here is the production possibilities table for war goods and civilian goods:
Here is the production possibilities table for war goods and civilian goods: Production AlternativesType of ProductionABCDE Robots0250450650850Wheat130117109890 a. Draw a production possibilities curve for robots and wheat using the data above. b. Label the points where the economy would be efficient (A), underutilized (B) and unattainable (C). c. What is the opportunity cost of moving from point A to point B? d. What is the opportunity cost of moving from point B to point C? e. What is the opportunity cost of moving from point D to...
Exhibit 2-1 Production possibilities curv e data Consumption Goods Capital Goods 10 4 4 In Exhibit...
Exhibit 2-1 Production possibilities curv e data Consumption Goods Capital Goods 10 4 4 In Exhibit 2-1, why is the opportunity cost of producing the fourth unit of capital 4 units of consumption goods but ty cost of producing 4 units of capital is 10 units of consumption goods? Because the opportunity cost of capital goods is constant while the opportunity cost of consumption goods is g as this economy moves from more consumption goods to more capital goods. Because...
urgent please Production Possibilities Analysis The table below is a set of hypothetical production possibilities for...
urgent please
Production Possibilities Analysis The table below is a set of hypothetical production possibilities for a nation. . Automobiles Beef Combination (thousands) (thousands of tons) 10 4 0 9-4 10 a. Plot these production possibilities data. What is. the opportunity cost of the first 2,000 automobiles produced? Between which points is the oppor- tunity cost per thousand automobiles highest? Between which points is the opportunity cost per thousand tons of beef highest? b. Label a point P inside the...
Exhibit 2-2 Production possibilities curve Com (millions of busheli) - --- 0 1 5 2 3...
Exhibit 2-2 Production possibilities curve Com (millions of busheli) - --- 0 1 5 2 3 4 Coffee (millions of bushes In Exhibit 2-2 the opportunity cost of coffee when moving from A to B is: 2 million bushels of com 6 million bushels of com 8 million bushels of com 14 million bushels of com it is not possible to determine
An economy produces two goods: capital goods and consumer goods. Points on the production possibilities curve...
An economy produces two goods: capital goods and consumer goods. Points on the production possibilities curve appear below: 2. roduction alternatives Capital ds per period Consumer goods per period 2018 14 8 A. If the economy is producing at alternative X, the opportunity cost of producing at Y instead of X is period a. 0 C. The production of 14 units of consumer goo and 1 unit of capital goods per period would a. result in full employment b. result...
4) Refer to Exhibit 2-4. In moving production allocations from points B to D on the...
4) Refer to Exhibit 2-4. In moving production allocations from
points B to D on the Production Possibilities Frontier (PPF), the
opportunity cost of production at Point C is ________ unit(s) of
__________ goods, respectively A) 15; capital B) 15; consumption C)
12.5; capital D) 12.5; consumption
Exhibit 2-4 Firm X's Points of Production Points onCapital Consumption 30.00 27.00 21.00 12.00 0.00 0.00 6.25 12.50 18.75 25.00
Name: ID: A Exhibit 2-10 Production possibilities curve data Capital goods Consumption goods 23 19 13 1 11. Suppose an economy is faced with the production possibilities table shown in Exhibit 2-10. As additional units of capital goods are being produced, the number of consumption goods produced must because increase; the production possibility table shows only the maximum efficiency points increase; of the law of increasing costs decrease; of the law of increasing costs decrease; of the finite nature of...
Exhibit 2-17 Production possibilities curve Consumption goods Capital goods In Exhibit 2-17, if countries A and B currently have the same production possibilities curve (PPC) as given in the figure, but this year country A locates at point A on its PPC and country B locates at point B on its PPC, then country A: a. is more efficient than country B. b. is producing more capital goods than country B. O c. will grow at a faster rate than...
Question 1 10 points Save Exhibit 2.10 Production possibilities curve data co E Capital goods Consumption goods Suppose an economy is faced with the production possibilities table shown in Exhibit 2.10. If this economy chooses the combination of goods at point A only capital goods are being produced every resource in the economy is utilized in the production of capital goods no capital goods are being used as factors of production every resource in the economy is being used in...
Question 8 Exhibit 2-13 Production possibilities curve Consumption goods Capital goods In Exhibit 2-13, the combination of goods given by point H could: never be achieved by this economy be achieved today if the economy achieved full employment be achieved today if the economy achieved maximum efficiency. not be achieved today. be achieved today with the proper allocation of resources, A Moving to another question will save this response.
Exhibit 2-1 Production possibilities curv e data Consumption Goods Capital Goods 10 4 4 In Exhibit 2-1, why is the opportunity cost of producing the fourth unit of capital 4 units of consumption goods but ty cost of producing 4 units of capital is 10 units of consumption goods? Because the opportunity cost of capital goods is constant while the opportunity cost of consumption goods is g as this economy moves from more consumption goods to more capital goods. Because...
urgent please
Production Possibilities Analysis The table below is a set of hypothetical production possibilities for a nation. . Automobiles Beef Combination (thousands) (thousands of tons) 10 4 0 9-4 10 a. Plot these production possibilities data. What is. the opportunity cost of the first 2,000 automobiles produced? Between which points is the oppor- tunity cost per thousand automobiles highest? Between which points is the opportunity cost per thousand tons of beef highest? b. Label a point P inside the...
Exhibit 2-2 Production possibilities curve Com (millions of busheli) - --- 0 1 5 2 3 4 Coffee (millions of bushes In Exhibit 2-2 the opportunity cost of coffee when moving from A to B is: 2 million bushels of com 6 million bushels of com 8 million bushels of com 14 million bushels of com it is not possible to determine
An economy produces two goods: capital goods and consumer goods. Points on the production possibilities curve appear below: 2. roduction alternatives Capital ds per period Consumer goods per period 2018 14 8 A. If the economy is producing at alternative X, the opportunity cost of producing at Y instead of X is period a. 0 C. The production of 14 units of consumer goo and 1 unit of capital goods per period would a. result in full employment b. result...
4) Refer to Exhibit 2-4. In moving production allocations from
points B to D on the Production Possibilities Frontier (PPF), the
opportunity cost of production at Point C is ________ unit(s) of
__________ goods, respectively A) 15; capital B) 15; consumption C)
12.5; capital D) 12.5; consumption
Exhibit 2-4 Firm X's Points of Production Points onCapital Consumption 30.00 27.00 21.00 12.00 0.00 0.00 6.25 12.50 18.75 25.00
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