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 show two possible PPFs for Spain's economy: a straight-line remain The following graphs show two possible PPFs for Spain's economy: a straight-line PPF (PPF) and a bowed-out PPF (PPF2).
Homework Answers
c- remains the same
Production possibility Frontier for equally efficient resources is linear and for linear PPF opportunity cost remains constant.
Graph 1
Graph 1 represents Spain's PPF as graph 1 has linear PPF.
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HW.A:3.1: Chapter 3 - Aplia Homework 1. Specialization and production possibilities Suppose Spain produces only smartphones...
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...
3. Efficiency in the production possibilities model Suppose Spain produces only two goods: corn and laptops....
3. Efficiency in the production possibilities model Suppose Spain produces only two goods: corn and laptops. The following graph shows Spain's current production possibilities frontier, along with six output combinations represented by black points (plus symbols) labeled A to F 100 80 PPF 60 D E 60 80 100 CORN (Milions of bushels)
two goods are not specialined -thart is Suppose Japan produces only tas and smartphones. The resources...
two goods are not specialined -thart is Suppose Japan produces only tas and smartphones. The resources that are used in the production of these usetal in producing both smarthones the shape of lapan's production posss romter() shouid eflect the fact that as Japan produces more smartphones and fewer tablens, the cost of producing each adenional The tolowing graphi .how two posstse PHs man's economy:? serag tine Pipp (PPF) and b bowed-out por ( PPP, ). Graph
3. Efficiency in the production possibilities model Suppose France produces only two goods: wheat and tablets....
3. Efficiency in the production possibilities model Suppose France produces only two goods: wheat 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 100 エ PPF 40 20 100 WHEAT (Millions of bushels) Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, or unattainable. Check all that apply Point Inefficient Efficient Unattainable
production possibilities frontier from Abbreviale in graphs C for cheese and F for furnitur North Carolina...
production possibilities frontier
from Abbreviale in graphs C for cheese and F for furnitur North Carolina is famous for its furniture, if necessary. and if it produced only e sets. Show your work! while Wisconsin for its cheese. Both NC and WI can produce both, If NC devoted all of its resources to the production of furniture, it could produce 20 furniture sets, cheese it could make 10 wheels of cheese. If WI devoted all of its resources to the...
4. Shifts in production possibilities Suppose Ireland produces two types of goods: agricultural and capital. The...
4. Shifts in production possibilities
Suppose Ireland produces two types of goods: agricultural and
capital. The following diagram shows its current production
possibilities frontier for wheat, an agricultural good, and
airplanes, a capital good.
4. Shifts in production possibilities Suppose Ireland produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and airplanes, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the...
3. Efficiency in the production possibilities model Suppose France produces only two goods: alfalfa and blu...
3. Efficiency in the production possibilities model Suppose France produces only two goods: alfalfa and blu rays. 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. 100 80 PPF 40 60 80 100 ALFALFA (Millions of bushels)
Suppose Spain produces two types of goods: agricultural and capital. The following diagram shows its current...
Suppose Spain produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities 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 technological advance in medicine that allows workers to live longer and have extended careers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired...
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...
3. Efficiency in the production possibilities model Suppose Spain produces only two goods: corn and laptops. The following graph shows Spain's current production possibilities frontier, along with six output combinations represented by black points (plus symbols) labeled A to F 100 80 PPF 60 D E 60 80 100 CORN (Milions of bushels)
two goods are not specialined -thart is Suppose Japan produces only tas and smartphones. The resources that are used in the production of these usetal in producing both smarthones the shape of lapan's production posss romter() shouid eflect the fact that as Japan produces more smartphones and fewer tablens, the cost of producing each adenional The tolowing graphi .how two posstse PHs man's economy:? serag tine Pipp (PPF) and b bowed-out por ( PPP, ). Graph
3. Efficiency in the production possibilities model Suppose France produces only two goods: wheat 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 100 エ PPF 40 20 100 WHEAT (Millions of bushels) Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, or unattainable. Check all that apply Point Inefficient Efficient Unattainable
production possibilities frontier
from Abbreviale in graphs C for cheese and F for furnitur North Carolina is famous for its furniture, if necessary. and if it produced only e sets. Show your work! while Wisconsin for its cheese. Both NC and WI can produce both, If NC devoted all of its resources to the production of furniture, it could produce 20 furniture sets, cheese it could make 10 wheels of cheese. If WI devoted all of its resources to the...
4. Shifts in production possibilities
Suppose Ireland produces two types of goods: agricultural and
capital. The following diagram shows its current production
possibilities frontier for wheat, an agricultural good, and
airplanes, a capital good.
4. Shifts in production possibilities Suppose Ireland produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and airplanes, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the...
3. Efficiency in the production possibilities model Suppose France produces only two goods: alfalfa and blu rays. 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. 100 80 PPF 40 60 80 100 ALFALFA (Millions of bushels)
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