The production possibilities frontier represents a. all equally affordable combinations of consumption and leisure for a...
The production possibilities frontier represents
a. all equally affordable combinations of consumption and leisure for a given wage
b. all combinations of consumption and leisure for fixed output
c. all technologically feasible combinations of consumption and leisure
d. all equally liked combinations of consumption and leisure
Homework Answers
Answer: c. all technologically feasible combinations of consumption and leisure
Technologically feasible combinations of consumption and leisure is
represented by the production possibilities frontier. Hence, option
c is correct.
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The production possibilities frontier represents
a. all equally affordable combinations of consumption and
leisure for a...
the production possibilities frontier represents all desirable combinations of outputs. true or false
the production possibilities frontier represents all desirable combinations of outputs. true or false
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...
The production possibilities frontier A. is a model that assumes there is no scarcity and no...
The production possibilities frontier A. is a model that assumes there is no scarcity and no opportunity cost. B. depicts the boundary between those combinations of goods and services that can be produced and those that cannot given resources and the current state of technology. C. shows how many goods and services are consumed by each person in a country. D. is a graph with price on the vertical axis and income on the horizontal axis.
Figure 3-6 Maxine's Production Possibilities Frontier Daisy's Production Possibilities Frontier TA 20 T 3 6 9...
Figure 3-6 Maxine's Production Possibilities Frontier Daisy's Production Possibilities Frontier TA 20 T 3 6 9 12 15 18 21 24 27 30 per 6 9 12 15 18 21 24 27 10 pies 11. Refer to Figure 3-6. If the production possibilities frontiers shown are each for one day of work, then which of the following combinations of pies and tarts could Maxine and Daisy together not make in a given day? a. 2 pies and 25 tarts b....
Suppose France produces only two goods: alfalfa and tablets. The following graph shows France's current production possibilities frontier
Suppose France produces only two goods: alfalfa and tablets. The following graph shows France's current production possibilities frontier, along with six output combinations represented by black points (plus symbols) labeled A to F. Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, or unattainable. Check all that apply.
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...
production possibilities frontier
Using the production possibilities frontier below, complete the following questions. (a) Calculate the opportunity cost of point A move to point B. (2 marks) (b) Calculate the opportunity cost of point C move to point D. (2 marks) (c) Illustrate and explain what would happen to the production possibilities frontier if there were a technological breakthrough in producing tubas. ...
Suppose the accompanying graph represents the Canadian production possibilities frontier between producing maple syrup and timber....
Suppose the accompanying graph represents the Canadian production possibilities frontier between producing maple syrup and timber. . Place point A at a location that is obtainable but inefficient Place point B at a location that is unobtainable Place point C at a location that is efficient. Production Possibilities for Canada
Fill in the blanks to complete the sentence about the production possibilities frontier. Drag word(s) below...
Fill in the blanks to complete the sentence about the production possibilities frontier. Drag word(s) below to fill in the blank(s) in the passage. A production possibilities frontier is a summarizing the different ways a society's could be used assuming those resources model * hypothesis * to full capacity" remain fixed* production resources to maximize output of a given product available labor* can respond to demand
Figure 3-3 Bob's Production Possibilities Frontier Enid's Production Possibilities Frontier 300 00G Aoo 109 0 200...
Figure 3-3 Bob's Production Possibilities Frontier Enid's Production Possibilities Frontier 300 00G Aoo 109 0 200 350 300 350 400 a 8 Refer to Figure 33 a) Bob's opportunity cost of one burrito is 1 33 tacos and Enid's opportunity cost of one burrito is b) If Bob and Enid each divide their time equally between the production of tacos and burritos, then total production is 2 50 burrios and 400 ac c) If Bob and Enid decide to completely...
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...
Figure 3-6 Maxine's Production Possibilities Frontier Daisy's Production Possibilities Frontier TA 20 T 3 6 9 12 15 18 21 24 27 30 per 6 9 12 15 18 21 24 27 10 pies 11. Refer to Figure 3-6. If the production possibilities frontiers shown are each for one day of work, then which of the following combinations of pies and tarts could Maxine and Daisy together not make in a given day? a. 2 pies and 25 tarts b....
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...
Suppose the accompanying graph represents the Canadian production possibilities frontier between producing maple syrup and timber. . Place point A at a location that is obtainable but inefficient Place point B at a location that is unobtainable Place point C at a location that is efficient. Production Possibilities for Canada
Fill in the blanks to complete the sentence about the production possibilities frontier. Drag word(s) below to fill in the blank(s) in the passage. A production possibilities frontier is a summarizing the different ways a society's could be used assuming those resources model * hypothesis * to full capacity" remain fixed* production resources to maximize output of a given product available labor* can respond to demand
Figure 3-3 Bob's Production Possibilities Frontier Enid's Production Possibilities Frontier 300 00G Aoo 109 0 200 350 300 350 400 a 8 Refer to Figure 33 a) Bob's opportunity cost of one burrito is 1 33 tacos and Enid's opportunity cost of one burrito is b) If Bob and Enid each divide their time equally between the production of tacos and burritos, then total production is 2 50 burrios and 400 ac c) If Bob and Enid decide to completely...
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