2. Suppose that society could produce the following combinations of pizzas and books: Alternative Quantity of pizzas Quantity of books 50 40 30 20 10 0 A B C D E F a. b. C. 0 10 18 24 28 30 Draw the production-possibilities frontier (PPF) for pizza and books, being as exact and neat as possible. (Put books on the horizontal axis. Assume that the dots define a complete curve.) Is it possible or efficient for this society to produce 25 pizzas and 25 books? Is it possible or efficient for this society to produce 42 pizzas and 1 book?
2. Suppose that society could produce the following combinations of pizzas and books: Alternative Quantity of pizzas Quantity of books 50 40 30 20 10 0 A B C D E F a. b. C. 0 10 18 24 28 30 Draw the production-possibilities frontier (PPF) for pizza and books, being as exact and neat as possible. (Put books on the horizontal axis. Assume that the dots define a complete curve.) Is it possible or efficient for this society to produce 25 pizzas and 25 books? Is it possible or efficient for this society to produce 42 pizzas and 1 book?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Part D E F
please do in your own words
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![2. Suppose that society could produce the following
combinations of pizzas and books:
Alternative Quantity of pizzas Quantity of books
50
40
30
20
10
0
A
B
C
D
E
F
a.
b.
C.
d.
e.
f.
0
10
18
24
28
30
Draw the production-possibilities frontier (PPF) for pizza
and books, being as exact and neat as possible. (Put books on
the horizontal axis. Assume that the dots define a complete
curve.)
Is it possible or efficient for this society to produce 25
pizzas and 25 books?
Is it possible or efficient for this society to produce 42
pizzas and 1 book?
If society is currently producing alternative B, then the
opportunity cost of moving to alternative A (and getting 10
more pizzas) is
books.
Is the opportunity cost of producing pizzas higher or
lower moving from alternative F to E than moving from
alternative B to A? Why is this likely to be so?
Suppose that the technologies used in producing both
pizzas and books improve. Draw one possible new
production-possibilities frontier in the graph above that
represents the results of this change. Indicate the direction of
the change that occurs with an arrow.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F92b7f90d-5077-4fd8-af7f-c202b6918b06%2Ffad2257f-91fa-498b-b87f-d801a34cfc64%2F8l0bwcb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2. Suppose that society could produce the following
combinations of pizzas and books:
Alternative Quantity of pizzas Quantity of books
50
40
30
20
10
0
A
B
C
D
E
F
a.
b.
C.
d.
e.
f.
0
10
18
24
28
30
Draw the production-possibilities frontier (PPF) for pizza
and books, being as exact and neat as possible. (Put books on
the horizontal axis. Assume that the dots define a complete
curve.)
Is it possible or efficient for this society to produce 25
pizzas and 25 books?
Is it possible or efficient for this society to produce 42
pizzas and 1 book?
If society is currently producing alternative B, then the
opportunity cost of moving to alternative A (and getting 10
more pizzas) is
books.
Is the opportunity cost of producing pizzas higher or
lower moving from alternative F to E than moving from
alternative B to A? Why is this likely to be so?
Suppose that the technologies used in producing both
pizzas and books improve. Draw one possible new
production-possibilities frontier in the graph above that
represents the results of this change. Indicate the direction of
the change that occurs with an arrow.
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