A small country produces only two goods, cars and computers. Given its limited resources, this country...
- A small country produces only two goods, cars and computers. Given its limited resources, this country has the following production possibilities:
Cars Computers
0 200
25 180
50 130
75 70
100 0
- Draw the PPF.
- Suppose car production uses mainly machines (capital) and computer production uses mainly labor. Show what happens to the PPF when the amount of capital increases but labor remains unchanged.
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A small country produces only two goods, cars and computers.
Given its limited resources, this country...
2. A small country produces only two goods, Laptops and Mountain Bikes. Given its limited resources,...
2. A small country produces only two goods, Laptops and Mountain Bikes. Given its limited resources, this country has the following production possibilities: Laptops Mountain Bikes 100 100 250 300 a. Draw the production possibilities curve. b. Suppose this country improves its technology for producing Laptops, but technology remains the same for the production of Mountain Bikes. What happens to the production possibility curve? c. How does this change affect the opportunity cost of increasing Mountain Bike production?
Imagine a country X that produces only two goods, strawberries (S) and cars (C), using two...
Imagine a country X that produces only two goods, strawberries (S) and cars (C), using two factors of production, capital (K) and labour (L). The production functions for both goods are given by : Qs = Qs(Ks , Ls) Qc = Qc(Kc , Lc) Qs is the total strawberry output, and Qc is the total car output. K and L are capital and labour inputs, respectively. Since it is difficult to pick strawberries by machines, we assume that strawberry production...
1. Country Z has an economy that produces two goods: Food (A) and Housing (B). These...
1. Country Z has an economy that produces two goods: Food (A) and Housing (B). These goods require the use of two resources. A unit of Food requires the use of 2 units of labor and 4 units to capital while one unit of housing requires the use of three (3) units of labor and five (5) units of capital. Country Z only has 150 units of labor and 200 units of capital available. Dl BL A. Use the above...
4. Shifts in production possibilities Suppose South Africa produces two types of goods: agricultural and capital....
4. Shifts in production possibilities Suppose South Africa produces two types of goods: agricultural and capital. The following diagram shows its current production possibiliies frontier for alfalfa, an agricultural good, and cars, a capital good Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of cars Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the...
Suppose that country A produces two goods under conditions of constant opportunity costs. Given its resources,...
Suppose that country A produces two goods under conditions of constant opportunity costs. Given its resources, the maximum S that it can make is 1000 units, and the opportunity cost of making T is 2 units of S. What is the maximum amount of T that it can produce? Draw a production possibility frontier (PPF) for country A.
Suppose Argentina produces two types of goods: agricultural and capital. The following diagram shows its current...
Suppose Argentina produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and cars, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a long drought that reduces the amount of water available for farmers to use for irrigation. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints...
1. Suppose there are two goods, Machines (M) and Food (F), and three factors of production...
1. Suppose there are two goods, Machines (M) and Food (F), and three factors of production Labor (L), Capital (K), and Land (T). The production functions are as follows: QM = AKÜLT, Qp = April where Qm is the quantity produced of MQF is the quantity produced of F, L M is the amount of labor that is employed in sector M, and LF denotes labor employed in sector F. There is a total of L units of labor, and...
4. Shifts in production possibilities Suppose Canada produces two types of goods: agricultural and capital. The...
4. Shifts in production possibilities Suppose Canada produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for corn, an agricultural good, and industrial robots, a capital good Drag the production possibilities frontier (PPF) on the graph to show the effects of an agricultural innovation that increases the crop yield of each acre of land Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one...
Suppose the United States produces only two goods: wheat and computers. The following graph shows the...
Suppose the United States produces only two goods: wheat and
computers. The following graph shows the United States’s current
production possibilities frontier (also known as the production
possibilities curve), along with six output combinations
represented by black points (+ symbols) labeled A to F.
100 T PPF ー 60 0. 40 20 0 20 40 60 80 100 WHEAT (Millions of bushels) Complete the following table by indicating whether each point represents output combinations that are productive inefficient, productive efficient,...
2. A small country produces only two goods, Laptops and Mountain Bikes. Given its limited resources, this country has the following production possibilities: Laptops Mountain Bikes 100 100 250 300 a. Draw the production possibilities curve. b. Suppose this country improves its technology for producing Laptops, but technology remains the same for the production of Mountain Bikes. What happens to the production possibility curve? c. How does this change affect the opportunity cost of increasing Mountain Bike production?
1. Country Z has an economy that produces two goods: Food (A) and Housing (B). These goods require the use of two resources. A unit of Food requires the use of 2 units of labor and 4 units to capital while one unit of housing requires the use of three (3) units of labor and five (5) units of capital. Country Z only has 150 units of labor and 200 units of capital available. Dl BL A. Use the above...
4. Shifts in production possibilities Suppose South Africa produces two types of goods: agricultural and capital. The following diagram shows its current production possibiliies frontier for alfalfa, an agricultural good, and cars, a capital good Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of cars Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the...
Suppose that country A produces two goods under conditions of constant opportunity costs. Given its resources, the maximum S that it can make is 1000 units, and the opportunity cost of making T is 2 units of S. What is the maximum amount of T that it can produce? Draw a production possibility frontier (PPF) for country A.
Suppose Argentina produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and cars, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a long drought that reduces the amount of water available for farmers to use for irrigation. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints...
1. Suppose there are two goods, Machines (M) and Food (F), and three factors of production Labor (L), Capital (K), and Land (T). The production functions are as follows: QM = AKÜLT, Qp = April where Qm is the quantity produced of MQF is the quantity produced of F, L M is the amount of labor that is employed in sector M, and LF denotes labor employed in sector F. There is a total of L units of labor, and...
4. Shifts in production possibilities Suppose Canada produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for corn, an agricultural good, and industrial robots, a capital good Drag the production possibilities frontier (PPF) on the graph to show the effects of an agricultural innovation that increases the crop yield of each acre of land Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one...
Suppose the United States produces only two goods: wheat and
computers. The following graph shows the United States’s current
production possibilities frontier (also known as the production
possibilities curve), along with six output combinations
represented by black points (+ symbols) labeled A to F.
100 T PPF ー 60 0. 40 20 0 20 40 60 80 100 WHEAT (Millions of bushels) Complete the following table by indicating whether each point represents output combinations that are productive inefficient, productive efficient,...
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