28 24 product Y 20 16 12 8 4 0 0 Production Possibilities Frontier 4 point A 8 point F 12 product X 16 point B. point C 20 point E point D 24 08. Which of the following statements about point C is TRUE? O (a) to produce more of product Y, some of product X has to be sacrificed O (b) the economy cannot reach this point without an increase in resources or improvement in technology O (c) the economy is producing efficiently. O (d) both (a) and (c) O(e) none of the above.

28 24 product Y 20 16 12 8 4 0 0 Production Possibilities Frontier 4 point A 8 point F 12 product X 16 point B. point C 20 point E point D 24 08. Which of the following statements about point C is TRUE? O (a) to produce more of product Y, some of product X has to be sacrificed O (b) the economy cannot reach this point without an increase in resources or improvement in technology O (c) the economy is producing efficiently. O (d) both (a) and (c) O(e) none of the above.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please choose answers for what happens to ppf and explanation from the dropdown shown
01. What is the per-unit opportunity cost of product Y as production moves from point F to point A? -5/2 O-2/5 5/2 2/5 none of the above
Figure 3-5 Hosne's Production Possibilities Frontier 10 9- 8 9 s wallets 1 2 3 4 5 6 7 8 4 purses and 8 wallets. O 7 purses and 7 wallets. O 10 purses and 6 wallets. 9 10 purses O 14 purses and 14 wallets. Merve's Production Possibilities Frontier 10 9 8- 3+ 6 5- 4+ Refer to Figure 3-5. If Hosne and Merve each divides her time equally between making purses and making wallets, then total production is 1 wallets 1 2 3 4 5 6 7 8 9 10 purses
QUESTION 10 product Y product Y 28 # 20 16 12 8 4 0 28 20 16 12 8 4 0 0 Fig. A Production Possibilities Frontier PPFO PPFO 4 8 PPFn 8 12 Fig. C Production Possibilities Frontier PPFn 16 12 Point E 20 16 24 product X Point E 20 product Y product Y 4 20 16 12 8 4 0 28 20 16 12 8 4 0 O 0 Fig. B Production Possibilities Frontier PPFO 4 PPFO PPFn 8 12 Fig. D Production Possibilities Frontier PPFn Point E 12 16 24 product X 16 20 Point E 20 24 product X 24 product X 10. Which of the above figures represents economic growth caused by an increase of resources specific to the production of product Y? (a) FIGA O (b) FIG B (c) FIG C O (d) FIG D
7.
QUESTION 8 product Y 28 24 20 16 12 8 4 0 0 Production Possibilities Frontier point A -point F 4 8 12 product X point B -point C 16 20 -point E -point D 24 08. Which of the following statements about point C is TRUE? O a) to produce more of product Y, some of product X has to be sacrificed. b) the economy cannot reach this point without an increase in resources or improvement in technology. c) the economy is producing efficiently. d) both (a) and (c). e) none of the above.
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Question 36
(A) OC. C OD. D oo 53 (B) (C) 7 Which one of the above figures represents an economy's production possibilities frontier? OA. B O B. A o (D) Q 2
MARL E According to the following graph, what is the optimal level of production (optimal quantity)? 12 $ 10 8 6 2 A MSC x MSB 20 40 60 80 Ⓒ 8 D) 4 B 100 -MPC 80 100 120 140 160 180 Q
7. Which of the above figures represents economic growth caused by an improvement in the technology of producing product of both X and Y? a) FIG A b) FIG B c) FIG C d) FIG D
1. Production Possibilities Country X is faced with the following output combinations for capital goods and consumer goods. Capital Goods Option ABCDE 8000 16000 24000 32000 Consumer Goods 220000 200000 160000 100000 Complete parts a, b, c, and d. a. Graph the production possibilities curve for Country X with capital goods on the x-axis and consumer goods on the y-axis. b. Does the Law of Increasing Opportunity Costs hold for this example? Explain why or why not. c. As you move from point B to point C, what is the cost of one more consumer good? d. If Country X wanted to experience higher levels of economic growth over the next few years, would they be better off choosing option B (a combination of 8000 capital goods and 200,000 consumer goods) or option D (a combination of 24000 capital goods and 100,000 consumer goods)? Explain.