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A point on a production possibilities curve indicates an output combination that can be attained only...
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...
46) A shift outwards of the nation's production possibilities frontier can occur due to: 46) A)...
46) A shift outwards of the nation's production possibilities frontier can occur due to: 46) A) a change in the amounts of one good desired. B) an increase in the labor force C) a natural disaster like a hurricane or bad earthquake D) a reduction in unemployment. 48) If a nation's production possibilities frontier moves outward, this represents: A) economic growth. B) an impossible situation. C) rising prices of the two goods on the production possibilities frontier model. D) a...
1) A production possibilities curve- seen here assumes which of these? Enlarge Image Production Possibilities Curve...
1) A production possibilities curve- seen here assumes which of these? Enlarge Image Production Possibilities Curve Output of A) Opportunity costs are constant B) Scarcity requires economic choices. The forces of supply are greater than the forces of C) demand. Consumer and military goods can both be made at D) maximum efficiency Out IN 2) The opportunity cost of a move from point A to point Bis A) the increased production of D. B) the increased production of C. the...
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...
Table 2.1 Production Possibilities Frontier for the United States Combination A B C D E F...
Table 2.1 Production Possibilities Frontier for the United States Combination A B C D E F G Vaccine doses (millions) Guns 10,000 19,000 24,000 28,000 30,000 31,000 17. According to the information in Table 2.1, what is the opportunity cost of producing the first one million vaccines? (a) 1,000 guns (b) 30,000 guns (e) 31,000 guns (d) one million vaccines (e) five million vaccines 19. In Table 2.1, opportunity costs (a) Increase as more vaccines are produced (b) A reconstanta...
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....
A production possibilities table for DVDs and computers is shown below Production Alternatives Type of Production...
A production possibilities table for DVDs and computers is shown below Production Alternatives Type of Production A Computers DVDs 0 20 40 60 80 80 70 35 a. Show these data graphically, and then identify a point that indicates an inefficient use of resources and a point that indicates an unattainable combination of goods Instructions: Use the tool provided 'PPC to draw a PPC curve (plot 5 points total) b. Does the economy above demonstrate the law of increasing opportunity cost?
Which of the following is one of the simplifying assumptions made in constructing a production possibilities...
Which of the following is one of the simplifying assumptions made in constructing a production possibilities curve? Resources are fully employed and are used in least-cost methods of production The curve shows every combination of goods that society wants A wide variety of products are produced Quantities of available resources in the economy vary from one point to another The state of technology is constantly changing
Suppose an economy moves from a point inside of its production possibilities curve to a point...
Suppose an economy moves from a point inside of its production possibilities curve to a point on the curve. The most likely source of this economic growth is: Group of answer choices increases in the quality of inputs. demand and efficiency factors. technological change. supply factors.
4. Utilize the following table to construct a Production Possibilities Curve and answer the following questions:...
4. Utilize the following table to construct a Production Possibilities Curve and answer the following questions: Assume you are a plastic goods manufacturer and specializing in making plastic canteens and frisbees, but cannot decide on what output to allocate your resources towards a. Construct a Production Possibilities Curve utilizing the table. (2 Points) b. What is the opportunity cost for the producer for moving from Point C on the graph to point D? (3 Points) c. Due to it being...
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...
46) A shift outwards of the nation's production possibilities frontier can occur due to: 46) A) a change in the amounts of one good desired. B) an increase in the labor force C) a natural disaster like a hurricane or bad earthquake D) a reduction in unemployment. 48) If a nation's production possibilities frontier moves outward, this represents: A) economic growth. B) an impossible situation. C) rising prices of the two goods on the production possibilities frontier model. D) a...
1) A production possibilities curve- seen here assumes which of these? Enlarge Image Production Possibilities Curve Output of A) Opportunity costs are constant B) Scarcity requires economic choices. The forces of supply are greater than the forces of C) demand. Consumer and military goods can both be made at D) maximum efficiency Out IN 2) The opportunity cost of a move from point A to point Bis A) the increased production of D. B) the increased production of C. the...
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...
Table 2.1 Production Possibilities Frontier for the United States Combination A B C D E F G Vaccine doses (millions) Guns 10,000 19,000 24,000 28,000 30,000 31,000 17. According to the information in Table 2.1, what is the opportunity cost of producing the first one million vaccines? (a) 1,000 guns (b) 30,000 guns (e) 31,000 guns (d) one million vaccines (e) five million vaccines 19. In Table 2.1, opportunity costs (a) Increase as more vaccines are produced (b) A reconstanta...
A production possibilities table for DVDs and computers is shown below Production Alternatives Type of Production A Computers DVDs 0 20 40 60 80 80 70 35 a. Show these data graphically, and then identify a point that indicates an inefficient use of resources and a point that indicates an unattainable combination of goods Instructions: Use the tool provided 'PPC to draw a PPC curve (plot 5 points total) b. Does the economy above demonstrate the law of increasing opportunity cost?
Which of the following is one of the simplifying assumptions made in constructing a production possibilities curve? Resources are fully employed and are used in least-cost methods of production The curve shows every combination of goods that society wants A wide variety of products are produced Quantities of available resources in the economy vary from one point to another The state of technology is constantly changing
4. Utilize the following table to construct a Production Possibilities Curve and answer the following questions: Assume you are a plastic goods manufacturer and specializing in making plastic canteens and frisbees, but cannot decide on what output to allocate your resources towards a. Construct a Production Possibilities Curve utilizing the table. (2 Points) b. What is the opportunity cost for the producer for moving from Point C on the graph to point D? (3 Points) c. Due to it being...
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