Homework Answers
Correct Option: Some car production must be forgone in order to produce more grain in the same period.
It is because the given PPC is convex and two produce more grains some cars production needs to be sacrificed.
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Question 57 3.75 pts Exhibit 2-7 Production possibilities curve 400 A Cars 300 (millions per year)...
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...
Question 54 3.75 pts Exhibit 2-2 Production possibilities curve 10 A 8 Corn om (millions of...
Question 54 3.75 pts Exhibit 2-2 Production possibilities curve 10 A 8 Corn om (millions of bushels С 4 --- D 2 - 1 0 2 5 1 3 4 Coffee (millions of bushels) The production possibilities in Exhibit 2-2 indicates that the opportunity cost of cornis Indeterminate Zero decreasing Increasing constant
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 Car1 Ton of...
8. Problems and Applications Q2 American and Japanese workers can each produce 4 cars a year....
8. Problems and Applications Q2 American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons of grain a year, whereas a Japanese worker can produce 5 tons of grain a year. To keep things simple, assume that e ach 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...
PS SUVs (millions per year) 56 5 Compact cars (millions per year) The figure above shows...
PS SUVs (millions per year) 56 5 Compact cars (millions per year) The figure above shows the production possibilities frontier for a country. If the country is producing at point D, then the resources are not being used efficiently and/or are unemployed. O production of SUVs and compact cars is maximized. technology associated with producing SUVs and compact cars is advancing. resources are being used efficiently. None of the above answers are correct because it is not possible to produce...
QUESTION 3 100 200 300 400 500 600 00 800900 Consider the production possibilities frontier for...
QUESTION 3 100 200 300 400 500 600 00 800900 Consider the production possibilities frontier for an economy that produces only sofas and cars. The opportunity cost of one 8 0名◇"lab. " ㅖ “ ® @ ↓囲
An American worker can produce either 5 cars or 8 tons of grain a year. A...
An American worker can produce either 5 cars or 8 tons of grain a year. A lapanese worker can produce either 4 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers Complete the foflowing 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 of Grain United StatesY Japan...
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...
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...
Question 1: Exhibit 1 - Production possibilities curves for U.S. and Mexico? Cloth (tons per day)...
Question 1: Exhibit 1 - Production possibilities curves for U.S. and Mexico? Cloth (tons per day) Cloth 10 (tons per day) Prus. 0 20 0 0 40 60 80 100 Wheat (tons per day) 0 0 0 100 Wheat (tons per day) Use the Production Possibilities Curves for U.S. and Mexico to determine i. In what commodity do United States has a comparative advantage over Mexico? il. In what commodity do Mexico has a comparative advantage over United States? iii....
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...
Question 54 3.75 pts Exhibit 2-2 Production possibilities curve 10 A 8 Corn om (millions of bushels С 4 --- D 2 - 1 0 2 5 1 3 4 Coffee (millions of bushels) The production possibilities in Exhibit 2-2 indicates that the opportunity cost of cornis Indeterminate Zero decreasing Increasing constant
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 Car1 Ton of...
8. Problems and Applications Q2 American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons of grain a year, whereas a Japanese worker can produce 5 tons of grain a year. To keep things simple, assume that e ach 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...
PS SUVs (millions per year) 56 5 Compact cars (millions per year) The figure above shows the production possibilities frontier for a country. If the country is producing at point D, then the resources are not being used efficiently and/or are unemployed. O production of SUVs and compact cars is maximized. technology associated with producing SUVs and compact cars is advancing. resources are being used efficiently. None of the above answers are correct because it is not possible to produce...
QUESTION 3 100 200 300 400 500 600 00 800900 Consider the production possibilities frontier for an economy that produces only sofas and cars. The opportunity cost of one 8 0名◇"lab. " ㅖ “ ® @ ↓囲
An American worker can produce either 5 cars or 8 tons of grain a year. A lapanese worker can produce either 4 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers Complete the foflowing 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 of Grain United StatesY Japan...
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...
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...
Question 1: Exhibit 1 - Production possibilities curves for U.S. and Mexico? Cloth (tons per day) Cloth 10 (tons per day) Prus. 0 20 0 0 40 60 80 100 Wheat (tons per day) 0 0 0 100 Wheat (tons per day) Use the Production Possibilities Curves for U.S. and Mexico to determine i. In what commodity do United States has a comparative advantage over Mexico? il. In what commodity do Mexico has a comparative advantage over United States? iii....
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