Homework Answers
Answer : Option (e) is correct.
Production Possibility Frontier (PPF) shows the combinations of output which are produced by using inputs efficiently.
Inside of the PPF curve, any point shows the combination of output production by using inefficient input levels.
And outside of the PPF curve any point shows that production needs more resources which are not available in the economy.
Therefore, in production if resources are used more efficiently then production can increase.
Add Answer to:
If the economy is currently producing at a point inside its Production Possibilities Frontier O alternate...
If an economy is operating inside its production possibilities frontier: A) it is producing efficiently. The...
If an economy is operating inside its production possibilities frontier: A) it is producing efficiently. The economy cannot produce more of one good without simultaneously reducing the output of another good. B) is producing inefficiently. If production was arranged more efficiently the economy can produce more on one good without sacrificing any production of another good. C) it is producing at an unattainable point. You cannot be inside the Production Possibilities Frontier. D) then opportunity cost approaches infinity. No economy...
9. Suppose that an economy is currently producing at a point inside its PPF. We know...
9. Suppose that an economy is currently producing at a point inside its PPF. We know that: a. The economy is producing beyond its capacity, so inflation will occur b. The economy is not using all of its available resources c. The economy is producing an efficient combination of goods d. There will be a large opportunity cost if the economy tries to increase production of any good _____ 10. Production possibility frontiers are usually shown as bowed outward. This...
Consider two points on the production possibilities frontier point X, at which there are 100 cars...
Consider two points on the production possibilities frontier point X, at which there are 100 cars and 78 trucks, an point Y, at which there are 90 cars and 70 trucks. If the economy is currently at point X the opportunity cost of moving to point Y is? a. 12 cars. b. I trucks. c. 10 cars. d. 79 trucks. e, none of the above. 12. The production possibilities frontier represents the possible combinations of two goods that an economy...
if a production combination in a country's production possibilities diagram is inside the production possibilities frontier,...
if a production combination in a country's production possibilities diagram is inside the production possibilities frontier, and the country be producing on its production on its production efficiency locus in the Edgeworth box diagram? why or why not
Canada is producing inside its production possibilities curve. It could move to its production possibilities curve...
Canada is producing inside its production possibilities curve. It could move to its production possibilities curve by: Multiple Choice Acquiring additional resources Employing more of its available resources Distributing incomes more equally Increasing the levels of wages and prices
Please answer both questions, with an explanation Suppose the given production possibilities frontier (PPF) graph shows...
Please answer both questions, with an explanation
Suppose the given production possibilities frontier (PPF) graph shows the fictitious country of Ruritania currently producing at the point labeled Start. If a decision is reached to provide more public goods, to which point will Ruritania move? O D O c O B Start С What is the opportunity cost of that decision? O There is no opportunity cost since the economy is still producing on the PPF. Public goods The private goods...
Economic growth (shifting of the production possibilities frontier) can occur (pick all the correct answers) -...
Economic growth (shifting of the production possibilities frontier) can occur (pick all the correct answers) - by improving the level of technology and skills in th economy - by increasing prices in the economy - by using resources efficiently - increasing the amount of resources (ex labor) in the economy
The production possibilities frontier can shift outward if: all of the above are correct there is...
The production possibilities frontier can shift outward if: all of the above are correct there is an increase in technology the government increases the amount of money in the economy resources can be moved from the production of one good to another
QUESTION 6 A country operating outside of the production possibilities frontier is: O operating efficiently. O...
QUESTION 6 A country operating outside of the production possibilities frontier is: O operating efficiently. O operating inefficiently and at an unattainable level. O operating inefficiently but in an area that can be attained with proper use of resources. impossible. A country cannot operate outside the production possibilities frontie.
According to the graph of the production possibilities frontier, what is the opportunity cost of the...
According to the graph of the production possibilities frontier, what is the opportunity cost of the third widget? Consider the graph 10 O about 6 widgets O about 3 gizmos O about 7.5 widgets O about 0.5 gizmos 0 1 2 3. 4 5 6 7 8 9 10 Widgets What best explains the shape of the production possibility frontier in the graph? O This economy has the capacity to produce different combinations of widgets and gizmos O Some resources...
If an economy is operating inside its production possibilities frontier: A) it is producing efficiently. The economy cannot produce more of one good without simultaneously reducing the output of another good. B) is producing inefficiently. If production was arranged more efficiently the economy can produce more on one good without sacrificing any production of another good. C) it is producing at an unattainable point. You cannot be inside the Production Possibilities Frontier. D) then opportunity cost approaches infinity. No economy...
Consider two points on the production possibilities frontier point X, at which there are 100 cars and 78 trucks, an point Y, at which there are 90 cars and 70 trucks. If the economy is currently at point X the opportunity cost of moving to point Y is? a. 12 cars. b. I trucks. c. 10 cars. d. 79 trucks. e, none of the above. 12. The production possibilities frontier represents the possible combinations of two goods that an economy...
Canada is producing inside its production possibilities curve. It could move to its production possibilities curve by: Multiple Choice Acquiring additional resources Employing more of its available resources Distributing incomes more equally Increasing the levels of wages and prices
Please answer both questions, with an explanation
Suppose the given production possibilities frontier (PPF) graph shows the fictitious country of Ruritania currently producing at the point labeled Start. If a decision is reached to provide more public goods, to which point will Ruritania move? O D O c O B Start С What is the opportunity cost of that decision? O There is no opportunity cost since the economy is still producing on the PPF. Public goods The private goods...
QUESTION 6 A country operating outside of the production possibilities frontier is: O operating efficiently. O operating inefficiently and at an unattainable level. O operating inefficiently but in an area that can be attained with proper use of resources. impossible. A country cannot operate outside the production possibilities frontie.
According to the graph of the production possibilities frontier, what is the opportunity cost of the third widget? Consider the graph 10 O about 6 widgets O about 3 gizmos O about 7.5 widgets O about 0.5 gizmos 0 1 2 3. 4 5 6 7 8 9 10 Widgets What best explains the shape of the production possibility frontier in the graph? O This economy has the capacity to produce different combinations of widgets and gizmos O Some resources...
Most questions answered within 3 hours.
-
On October 1, 20X1, a company purchased a piece of land by
agreeing to pay the...
asked 4 minutes ago -
Jamie is doing a survey at her school about whether the students
feel the cafeteria food...
asked 9 minutes ago -
What are the roles of 3' and 5' untranslated regions in
mRNAs?
asked 10 minutes ago -
A domestic television receives antenna delivers a sky noise
power of -105 dBm to a matched...
asked 9 minutes ago -
What do you think are the chemical reactions involved in the
breathalyzer tests administered to potentially...
asked 24 minutes ago -
A random sample of 120 observations produces a mean of
38.2 from a population with a...
asked 31 minutes ago -
The average area of land burned by forest fires every year in
Canada is 2.5 million...
asked 33 minutes ago -
36. The basic difference between government bureaus and market
firms is that bureaus:
a. can...
asked 33 minutes ago -
java
- A recursive method findR() to search for a number in list
(ArrayList)
- A...
asked 51 minutes ago -
Which of the following is an example of a screen against adverse
selection? [Mark All That...
asked 50 minutes ago -
A worker drives a 0.560 kg spike into a rail tie with a 2.76 kg
sledgehammer....
asked 56 minutes ago -
Assume the following information concerning two stocks that make
up an index. What is the price-weighted...
asked 59 minutes ago