Homework Answers
Answer:
To produce third unit of steel, one has to give up 75-55 = 20 units of wheat.
In this economy goes from 2 units of steel to 3, then it must give up 20 units of wheat.
The marginal opportunity cost of the third unit of steel is 20 units of wheat
Hence, option A] 20 units of wheat
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A nation can produce two products: steel and wheat. The table below is the nation's production...
A nation can produce two products: steel and wheat. The table below is the nation’s production...
A nation can produce two products: steel and wheat. The table below is the nation’s production possibilities schedule: Production Possibilities Schedule Product A B C D E F Steel 0 1 2 3 4 5 Wheat 100 90 75 55 30 0 In moving from combination E to F, the opportunity cost of an additional unit of steel is rev: 05_10_2018 Multiple Choice 30 units of wheat. 5 units of steel. 0 unit of wheat. 1 unit of steel.
A nation can produce two products: steel and wheat. The table below is the nation’s production...
A nation can produce two products: steel and wheat. The table below is the nation’s production possibilities schedule: Production Possibilities Schedule Product Product A B C D E F Steel 0 1 2 3 4 5 Wheat 100 90 75 55 30 0 If the nation uses all of its resources to produce only wheat, then its production combination will be
lp Save&Exit Submit MC Qu. 141 A nation can produce two products:... A nation can produce...
lp Save&Exit Submit MC Qu. 141 A nation can produce two products:... A nation can produce two products: steel and wheat. The table below is the nation's production possibilities schedule: Production Possibilities Schedule Product Steel Wheat 100 90 75 30 In moving stepwise from possibility A to Bto C...to F, the opportunity cost of a unit of steel in terms of wheat Multiple Choice
Saved A nation can produce two products tanks and autos. The table below is the nation's...
Saved A nation can produce two products tanks and autos. The table below is the nation's production possibilities schedule. Product A E Production Possibilities B с D 1 2 3 950 850 650 Tanks 4 0 1,000 Autos 5 0 350 The total opportunity cost of three unit(s) of tanks is Multiple Choice 200 units of autos 350 units of autos О O 650 units of autos 1,000 units of autos 20 Coke O 10 Popcorn Suppose you have a...
The following table is the production possibilities for a 1000 acre farm that can grow wheat...
The following table is the production possibilities for a 1000 acre farm that can grow wheat or cotton. Identify the correct statement below. Wheat production (Bushels) | Cotton Production (pounds) 0 | 800,000 10,000 | 740,000 20,000 | 660,000 30,000 | 550,000 40,000 | 410,000 50,000 | 230,000 60,000 | 0 a- wheat production does not have an opportunity cost b- marginal opportunity costs are increasing as the farmer increases wheat production c- cotton technology is increasing as wheat production...
Question 36 If the production of steel increases from point C to point D, what is...
Question 36 If the production of steel increases from point C to point D, what is the opportunity cost? 100 90 75 D 25 75 80 90 100 ons of Steel Provide your answer below: ton(s) of wheat Tons of Wheat 20
able Production Possibilities Schedule I) Use Table: Production Possibilities Schedule I. The opportunity cost of producing...
able Production Possibilities Schedule I) Use Table: Production Possibilities Schedule I. The opportunity cost of producing the third unit of consumer goods is units of capital goods. Table: Production Possibilities Schedule I Alternatives Consumer goods per period 0 Capital goods per period 30 28 24 1810 8 2 (Figure: Comparative Advantage) Use Figure: Comparative Advantage. Westland has a comparative advantage in producing: Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and...
The following table is the production possibilities for a 1000 acre farm that can grow wheat...
The following table is the production possibilities for a 1000 acre farm that can grow wheat or cotton. Suppose the farmer is currently producing 740,000 pounds of cotton and 10,000 bushels of wheat. What is the opportunity cost of increasing cotton production 60,000 pounds. Wheat production (Bushels) | Cotton Production (pounds) 0 | 800,000 10,000 | 740,000 20,000 | 660,000 30,000 | 550,000 40,000 | 410,000 50,000 | 230,000 60,000 | 0 - 10,000 bushels of wheat - 20,000 bushels...
The following table is the production possibilities for a 100 acre farm that can grow wheat...
The following table is the production possibilities for a 100 acre farm that can grow wheat or cotton. Suppose the farmer is currently producing 550,000 pounds of cotton and 30,000 bushels of wheat. What is the opportunity cost of increasing wheat production by 10,000 pounds (to 40,000) Wheat production (Bushels) | Cotton Production (pounds) 0 | 800,000 10,000 | 740,000 20,000 | 660,000 30,000 | 550,000 40,000 | 410,000 50,000 | 230,000 60,000 | 0 a- 410,000 pounds of cotton...
21. (Table: Production Possibilities for Machinery and Petroleum) Use Table: Production Possibilities for Machinery and Petroleum....
21. (Table: Production Possibilities for Machinery and Petroleum) Use Table: Production Possibilities for Machinery and Petroleum. The opportunity cost of is in the United States as (than) in Mexico. Table: Production Possibilities for Machinery and Petroleum Machinery (M) Petroleum (P) Countries (units) United States 80 40 Mexico 60 180 O machinery; the same O petroleum; the same O petroleum; more O petroleum; less 22. (Table: Production Possibilities for Machinery and Petroleum) Use Table: Production Possibilities for Machinery and Petroleum. In...
lp Save&Exit Submit MC Qu. 141 A nation can produce two products:... A nation can produce two products: steel and wheat. The table below is the nation's production possibilities schedule: Production Possibilities Schedule Product Steel Wheat 100 90 75 30 In moving stepwise from possibility A to Bto C...to F, the opportunity cost of a unit of steel in terms of wheat Multiple Choice
Saved A nation can produce two products tanks and autos. The table below is the nation's production possibilities schedule. Product A E Production Possibilities B с D 1 2 3 950 850 650 Tanks 4 0 1,000 Autos 5 0 350 The total opportunity cost of three unit(s) of tanks is Multiple Choice 200 units of autos 350 units of autos О O 650 units of autos 1,000 units of autos 20 Coke O 10 Popcorn Suppose you have a...
Question 36 If the production of steel increases from point C to point D, what is the opportunity cost? 100 90 75 D 25 75 80 90 100 ons of Steel Provide your answer below: ton(s) of wheat Tons of Wheat 20
able Production Possibilities Schedule I) Use Table: Production Possibilities Schedule I. The opportunity cost of producing the third unit of consumer goods is units of capital goods. Table: Production Possibilities Schedule I Alternatives Consumer goods per period 0 Capital goods per period 30 28 24 1810 8 2 (Figure: Comparative Advantage) Use Figure: Comparative Advantage. Westland has a comparative advantage in producing: Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and...
21. (Table: Production Possibilities for Machinery and Petroleum) Use Table: Production Possibilities for Machinery and Petroleum. The opportunity cost of is in the United States as (than) in Mexico. Table: Production Possibilities for Machinery and Petroleum Machinery (M) Petroleum (P) Countries (units) United States 80 40 Mexico 60 180 O machinery; the same O petroleum; the same O petroleum; more O petroleum; less 22. (Table: Production Possibilities for Machinery and Petroleum) Use Table: Production Possibilities for Machinery and Petroleum. In...
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