Figure 1.1 In figure 1.1, if there were no diminishing return between the production of tanks...
Figure 1.1
In figure 1.1, if there were no diminishing return between the production of tanks and automobiles, the production-possibilities curve would best be represented by a:
Select one:
A. A straight line
B. A convex line (bowed outward)
C. A concave line (bowed inward)
D. A circle
Homework Answers
"A"
If there is no diminishing return between the production of two goods the PPF will be a straight line. (a convex curve represents diminishing return and a concave line represents increasing return.)
Add Answer to:
Figure
1.1
In figure 1.1, if there were no diminishing return between the
production of tanks...
Question 1 1 pts Refer to the figure below. The production possibilities curve ABCDE is bowed...
Question 1 1 pts Refer to the figure below. The production possibilities curve ABCDE is bowed outward (concave) as opposed to bowed inward (convex). This is because Chairs OHNuovo o Desks Society does not value desks society faces no resource scarcity opportunity costs increase as more ticular Ebod is reduced of the law of one price D Question 2 Refer to the figure below. At point A, the cost of one more desk is Chairs ONWONOU Desks O chairs 1...
Refer to the table below. Type of Production Automobiles Forklifts 6 30 27 21 12 a....
Refer to the table below.
Type of Production Automobiles Forklifts 6 30 27 21 12 a. Suppose improvement occurs in the technology of producing forklifts but not in the technology of producing automobiles. Draw the new production possibilities curve nstructions: Use your mouse to click on either one or both of the endpoints of the PPC and drag inward or outward as necessary Production Possibilities Automobiles 30 b. Now assume that a technological advance occurs in producing automobiles but not...
We were unable to transcribe this imageAssume that the resources best sulted to producing a partícular...
We were unable to transcribe this imageAssume that the resources best sulted to producing a partícular service are preferentially used in the production of that service and that as the economy moves down along the production possibiNties frontlier, one worker at a time is transferred from mowing lawns to washing cars. Using the blue points (circle symbol), graph the production possibilities frontier (PPF) for this economy on the following graph. Then use the black point (plus symbol to identify point...
I. Multiple Choice: Choose the alternative that best completes the statement or answers the question. 1....
I. Multiple Choice: Choose the alternative that best completes the statement or answers the question. 1. Production possibilities frontiers are typically concave (bowed out) from the origin because of the law of supply b. a. there is usually a one-for-one trade-off in resources used in production economies of scale enable firms to reduce the average costs of production as output rises d. c. the opportunity cost of a good rises as the quantity of the good produced increases e. resources...
2. A different firm has this daily production function. Assume that capital is fixed at 8...
2. A different firm has this daily production function. Assume that capital is fixed at 8 units. q K1312/3 a. Give the marginal product function. (Write and circle your answer.) b. Give the derivative of the marginal product function. (Write and circle your answer.) c. Is the production function concave or convex? (Write and circle your answer.) Does this production function exhibit diminishing marginal product for labor? (Write "yes" or "no" and circle your answer.) d. Which best describes this...
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....
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...
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
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...
10. workers: Larry, Moe, and Curly. Each works 10 hours a day and can produce two...
10. workers: Larry, Moe, and Curly. Each works 10 hours a day and can produce two services: mowing lawns and washing Using the blue points (circle symbol), graph the production possibiities frontler (PPF) for this economy on the folowing graph. Then use the black the purpie point (diamond symbol) to identify point D on the graph. mows lawns. (D) Using the blue points (circle symbol), graph the production possiblities frontier (PPF) for this economy on the folowing graph. Then use...
Question 1 1 pts Refer to the figure below. The production possibilities curve ABCDE is bowed outward (concave) as opposed to bowed inward (convex). This is because Chairs OHNuovo o Desks Society does not value desks society faces no resource scarcity opportunity costs increase as more ticular Ebod is reduced of the law of one price D Question 2 Refer to the figure below. At point A, the cost of one more desk is Chairs ONWONOU Desks O chairs 1...
Refer to the table below.
Type of Production Automobiles Forklifts 6 30 27 21 12 a. Suppose improvement occurs in the technology of producing forklifts but not in the technology of producing automobiles. Draw the new production possibilities curve nstructions: Use your mouse to click on either one or both of the endpoints of the PPC and drag inward or outward as necessary Production Possibilities Automobiles 30 b. Now assume that a technological advance occurs in producing automobiles but not...
We were unable to transcribe this imageAssume that the resources best sulted to producing a partícular service are preferentially used in the production of that service and that as the economy moves down along the production possibiNties frontlier, one worker at a time is transferred from mowing lawns to washing cars. Using the blue points (circle symbol), graph the production possibilities frontier (PPF) for this economy on the following graph. Then use the black point (plus symbol to identify point...
I. Multiple Choice: Choose the alternative that best completes the statement or answers the question. 1. Production possibilities frontiers are typically concave (bowed out) from the origin because of the law of supply b. a. there is usually a one-for-one trade-off in resources used in production economies of scale enable firms to reduce the average costs of production as output rises d. c. the opportunity cost of a good rises as the quantity of the good produced increases e. resources...
2. A different firm has this daily production function. Assume that capital is fixed at 8 units. q K1312/3 a. Give the marginal product function. (Write and circle your answer.) b. Give the derivative of the marginal product function. (Write and circle your answer.) c. Is the production function concave or convex? (Write and circle your answer.) Does this production function exhibit diminishing marginal product for labor? (Write "yes" or "no" and circle your answer.) d. Which best describes this...
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...
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
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...
10. workers: Larry, Moe, and Curly. Each works 10 hours a day and can produce two services: mowing lawns and washing Using the blue points (circle symbol), graph the production possibiities frontler (PPF) for this economy on the folowing graph. Then use the black the purpie point (diamond symbol) to identify point D on the graph. mows lawns. (D) Using the blue points (circle symbol), graph the production possiblities frontier (PPF) for this economy on the folowing graph. Then use...
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