Homework Answers
The production possibility frontier shows all the combination of two goods that can be produced with the given level resources. The shape of the PPF actually shows the nature of the opportunity costs, in the first graph the production possibility curve is a straight line and it means there is constant opportunity costs. On the PPF the opportunity cost for moving one combination of goods to other is constant.
The bowed PPF shows the increasing opportunity costs, the opportunity cost for moving from one point to another point will be increasing.
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I’m not sure how to answer this, please help. Good Good 1 Good 2 Good 2...
can you help me with question 8 please Question 8 2 pts When a production possibilities...
can you help me with question 8 please
Question 8 2 pts When a production possibilities frontier is bowed outward, like the typical production possibilities frontier, the opportunity cost of producing an additional unit of a good may increase, decrease, or not change as more of the good is produced. o decreases as more of the good is produced. does not change as more of the good is produced. increases as more of the good is produced.
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...
1. Specialization and production possibilities Suppose Bulgaria produces only tablets and smartphones. The resources that are...
1. Specialization and production possibilities Suppose Bulgaria produces only tablets and smartphones. 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 smartphones and tablets The shape of Bulgaria's production possibilities frontier (PPF) should reflect the fact that as Bulgaria produces more smartphones and fewer tablets, the opportunity cost of producing each additional smartphone The following graphs show two possible PPFs for Bulgaria's...
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...
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....
please help with worksheet NAME SECTION PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 6 throug...
please help with worksheet
NAME SECTION PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 6 through 9 Can Openers 14,000 12,000 10,000 8,000 6,000 PHE: 4,000 PHF 2,000 2 3 4 1 8 Drill Presses events would best explain a shift from PPF, to PPF2? Which of the following 6. An increase in rate of unemployment An increase in the size of the labor force A reduction in rate of unemployment A reduction in the size...
I am having a tough time answering these 2 questions!!! Not sure how to answer them...
I am having a tough time answering these 2 questions!!! Not sure how to answer them at all. 2. What are some of the benefits and costs associated with legal abortion? Do you think individuals use marginal benefit and marginal cost analysis when considering legal abortion? 3. How does legal abortion affect the United States production possibilities frontier (PPF)? Explain.
please help. show the exact points for the graph. 4. Problems and Applications Q4 An economy...
please help. show the exact points for the graph.
4. Problems and Applications Q4 An economy consists of three workers: Van, Carlos, and Felix. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Van can either mow 1 own or wash 1 car; Carlos can either mow 1 lawn or wash 2 cars, and Felix can either mow 2 lawns or wash 1 For each of the scenarios listed in...
FUNDAMENTALS IN-CLASS WORKSHEET 2 This question examines the production possibilities of an individual, Nicolas. You will...
FUNDAMENTALS IN-CLASS WORKSHEET 2 This question examines the production possibilities of an individual, Nicolas. You will construct the production possibilities frontier (PPF) for Nicolas and identify his opportunity cost of producing different goods. Nicolas can use his limited resources to produce only rings and necklaces. Below, you are provided with feasible combinations of rings and necklaces that Nicolas can produce, and that employ all of his productive resources. Rings Necklaces 0 8 3 6 6 4 9 2 12 0...
re is one answer to each problem. You have two attempts for each question. se do...
re is one answer to each problem. You have two attempts for each question. se do not ex d Luck! it until you finished it. If you do, the system will consider that you're finished working on the qui Question 8 1 pts Economists typically depict the PPF as a bowed out (concave) curve rather than as a straight line in order to show that: opportunity cost is always present. O the opportunity cost of producing a good declines as...
can you help me with question 8 please
Question 8 2 pts When a production possibilities frontier is bowed outward, like the typical production possibilities frontier, the opportunity cost of producing an additional unit of a good may increase, decrease, or not change as more of the good is produced. o decreases as more of the good is produced. does not change as more of the good is produced. increases as more of the good is produced.
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...
1. Specialization and production possibilities Suppose Bulgaria produces only tablets and smartphones. 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 smartphones and tablets The shape of Bulgaria's production possibilities frontier (PPF) should reflect the fact that as Bulgaria produces more smartphones and fewer tablets, the opportunity cost of producing each additional smartphone The following graphs show two possible PPFs for Bulgaria's...
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...
please help with worksheet
NAME SECTION PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 6 through 9 Can Openers 14,000 12,000 10,000 8,000 6,000 PHE: 4,000 PHF 2,000 2 3 4 1 8 Drill Presses events would best explain a shift from PPF, to PPF2? Which of the following 6. An increase in rate of unemployment An increase in the size of the labor force A reduction in rate of unemployment A reduction in the size...
please help. show the exact points for the graph.
4. Problems and Applications Q4 An economy consists of three workers: Van, Carlos, and Felix. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Van can either mow 1 own or wash 1 car; Carlos can either mow 1 lawn or wash 2 cars, and Felix can either mow 2 lawns or wash 1 For each of the scenarios listed in...
re is one answer to each problem. You have two attempts for each question. se do not ex d Luck! it until you finished it. If you do, the system will consider that you're finished working on the qui Question 8 1 pts Economists typically depict the PPF as a bowed out (concave) curve rather than as a straight line in order to show that: opportunity cost is always present. O the opportunity cost of producing a good declines as...
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