The figure shows an increase in resources that shifts the production possibilities frontier from PPF, to PPF2. For someone producing only wings, what is the change in opportunity cost compared with producing only pizza?
Homework Answers
Initial opportunity cost for producing pizzas = 300/100 = 3 wings
Initial opportunity cost for producing wings = 100/300 = 0.33 pizzas
New opportunity cost for producing pizzas = 360/120 = 3 wings
New opportunity cost for producing wings = 120/360 = 0.33 pizzas
We can see that the opportunity cost for someone producing only wings remains the same and there is no change in the opportunity cost. And for someone producing only pizzas, the opportunity cost remains the same and there is no change in the opportunity cost.
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The figure shows an increase in resources that shifts the production possibilities frontier from PPF, to PPF2.
Chapter 2: Model Building and Gains from Trade Оuestlon Cоnfldence I knowI know it! e Page...
Chapter 2: Model Building and Gains from Trade Оuestlon Cоnfldence I knowI know it! e Page 36 2.2. What is a prod uction possibilities frontier? Yau can gain ar lace up ba 100 paints an this quastian. The figure shows an increase in resources that shifts the production possibilities frontier from PPF1 to PPF2. For someone producing only wings, what is the change in opportunity cost compared with producing only pizza? Actlvity Score 160 Quantity of pizzas produced PPF 120...
The figure above shows a production possibilities frontier (PPF) for a society that makes two goods-pizza...
The figure above shows a production possibilities frontier (PPF) for a society that makes two goods-pizza and wings. For each point in the figure, select the correct button below to show whether the point represents an efficient use of resources, an inefficient use of resources, or is unattainable. Point A: Point B: Point C: Point D: Point F:
Figure 1: PPF Production Possibilities Frontier 0 0 Pizza Multiple Choice 1. Refer to the Production...
Figure 1: PPF Production Possibilities Frontier 0 0 Pizza Multiple Choice 1. Refer to the Production Possibilities Frontier (PPF) in Figure 1 on the next page. What is true about point A? (A) It is unattainable (B) Resources are being unused or misallocated (C) Capital exceeds labour in production (D) It is preferable to point B 2. Still referring to Figure 1, what is true about point B? (A) It represents diminishing and increasing opportunity cost (B) It is a...
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...
Consider the production possibilities frontier (PPF) that shows the trade-off between the production of cotton and...
Consider the production possibilities frontier (PPF) that shows
the trade-off between the production of cotton and the production
of soybeans depicted in the figure to the right.
Use the three-point curved line drawing tool to show the effect
that
improved fertilizersimproved fertilizers
would have on the initial production possibilities frontier by
drawing a new production possibilities frontier. Properly label
this curve. .
Carefully follow the instructions above, and only draw the
required objects.
PPF1 Quantity of soybeans
HW.A:3.1: Chapter 3 - Aplia Homework 1. Specialization and production possibilities Suppose Spain produces only smartphones...
HW.A:3.1: Chapter 3 - Aplia Homework .1. Specialization and production possibilities Suppose Spain produces only smartphones and tablets. The resources that are used in the production of these two goods are not specialized-that is, the same set of resources is equally useful in producing both tablets and smartphones The shape of Spain's production possibilities frontier (PPF) should reflect the fact that as Spain produces more tablets and fewer smartphones, the opportunity cost of producing each additional tablet a- Decrease b- increase The following graphs...
increase, decrease or remain constant * Based on the previous description, the trade-off Sweden faces between...
increase, decrease or remain constant *
Based on the previous description, the trade-off Sweden faces
between producing tablets and smartphones is best represented by
Graph 1 or Graph 2 .
1. Specialization and production possibilities Suppose Sweden produces only smartphones and tablets. The resources that are used in the production of these two goods are not specialized that is, the same set of resources is equally useful in producing both tablets and smartphones. The shape of Sweden's production possibilities frontier...
The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing and...
The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing and coal. The black points (cross symbols) represent three possible output levels in a given month. (Hint: You can click on the points to see their exact coordinates.) Refer to the following graph to answer the questions that follow. 32 28 24 PPF 20 + B CLOTHING (Millions of garments) 16 + 12 4 0 0 100 200 600 700 800 300 400 500 COAL...
Opportunity cost is evident on the production possibilities frontier (PPF) graph as we move from one...
Opportunity cost is evident on the production possibilities frontier (PPF) graph as we move from one unattainable point to an efficient point on the frontier. as we move from an inefficient point to the origin. as we move from one point on the frontier to another point on the frontier. at any one single point on the graph. as we move from the origin to any inefficient point.
The graph below shows Tanya’s weekly production possibilities frontier for doing homework (writing papers and doing...
The graph below shows Tanya’s
weekly production possibilities frontier for doing homework
(writing papers and doing problem sets). The vertical intercept
(point A) is 8, and the horizontal intercept (point B) is 4.
a. The slope of the production possibilities frontier is .
b. The opportunity cost of doing one problem set is .
c. The opportunity cost of writing one paper is .
Production possibilities frontier Problem sets PPF Papers
Chapter 2: Model Building and Gains from Trade Оuestlon Cоnfldence I knowI know it! e Page 36 2.2. What is a prod uction possibilities frontier? Yau can gain ar lace up ba 100 paints an this quastian. The figure shows an increase in resources that shifts the production possibilities frontier from PPF1 to PPF2. For someone producing only wings, what is the change in opportunity cost compared with producing only pizza? Actlvity Score 160 Quantity of pizzas produced PPF 120...
The figure above shows a production possibilities frontier (PPF) for a society that makes two goods-pizza and wings. For each point in the figure, select the correct button below to show whether the point represents an efficient use of resources, an inefficient use of resources, or is unattainable. Point A: Point B: Point C: Point D: Point F:
Figure 1: PPF Production Possibilities Frontier 0 0 Pizza Multiple Choice 1. Refer to the Production Possibilities Frontier (PPF) in Figure 1 on the next page. What is true about point A? (A) It is unattainable (B) Resources are being unused or misallocated (C) Capital exceeds labour in production (D) It is preferable to point B 2. Still referring to Figure 1, what is true about point B? (A) It represents diminishing and increasing opportunity cost (B) It is a...
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...
Consider the production possibilities frontier (PPF) that shows
the trade-off between the production of cotton and the production
of soybeans depicted in the figure to the right.
Use the three-point curved line drawing tool to show the effect
that
improved fertilizersimproved fertilizers
would have on the initial production possibilities frontier by
drawing a new production possibilities frontier. Properly label
this curve. .
Carefully follow the instructions above, and only draw the
required objects.
PPF1 Quantity of soybeans
HW.A:3.1: Chapter 3 - Aplia Homework .1. Specialization and production possibilities Suppose Spain produces only smartphones and tablets. The resources that are used in the production of these two goods are not specialized-that is, the same set of resources is equally useful in producing both tablets and smartphones The shape of Spain's production possibilities frontier (PPF) should reflect the fact that as Spain produces more tablets and fewer smartphones, the opportunity cost of producing each additional tablet a- Decrease b- increase The following graphs...
increase, decrease or remain constant *
Based on the previous description, the trade-off Sweden faces
between producing tablets and smartphones is best represented by
Graph 1 or Graph 2 .
1. Specialization and production possibilities Suppose Sweden produces only smartphones and tablets. The resources that are used in the production of these two goods are not specialized that is, the same set of resources is equally useful in producing both tablets and smartphones. The shape of Sweden's production possibilities frontier...
The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing and coal. The black points (cross symbols) represent three possible output levels in a given month. (Hint: You can click on the points to see their exact coordinates.) Refer to the following graph to answer the questions that follow. 32 28 24 PPF 20 + B CLOTHING (Millions of garments) 16 + 12 4 0 0 100 200 600 700 800 300 400 500 COAL...
The graph below shows Tanya’s
weekly production possibilities frontier for doing homework
(writing papers and doing problem sets). The vertical intercept
(point A) is 8, and the horizontal intercept (point B) is 4.
a. The slope of the production possibilities frontier is .
b. The opportunity cost of doing one problem set is .
c. The opportunity cost of writing one paper is .
Production possibilities frontier Problem sets PPF Papers
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