Cell Phones-daily production986543N HO00Production Possibility Frontier - Country ZA0.85FB10,610,4GC15,715, 41015Clothing - Daily productionD18, 220E20,0253. Answer the following questions about the Production Possibility Frontier for the country Z producing 2groups of goods, cell phones and clothing.(a) What is gained when country Z moves from B to C?(b) What is given up when country Z moves from B to C?(c) What is the opportunity cost of producing the first two cell phones?(d) What is the opportunity cost of producing the last two cell phones?(e) What happens to the opportunity cost of cell phones as country Z produces more of them?4. Answer the following questions about the Production Possibility Frontier for the country Z producing 2groups of goods, cell phones and clothing.(a) Suppose country Z is producing at point F. How many more cell phones could it produce to reachefficiency?(b) Suppose country Z is producing at point F. How many more items of clothing could it produce toreach efficiency?(c) Aside from point F, list a point that is not efficient.

The Production Possibility Frontier (PPF), also known as the Production Possibility Curve, is a…

3. Answer the following questions about t groups of goods, cell phones and clothi (a) What is gained when country Z m (b) What is given up when country Z (c) What is the opportunity cost of p (d) What is the opportunity cost of p (e) What happens to the opportunity

3. Answer the following questions about t groups of goods, cell phones and clothi (a) What is gained when country Z m (b) What is given up when country Z (c) What is the opportunity cost of p (d) What is the opportunity cost of p (e) What happens to the opportunity

ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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Question

Cell Phones-daily production
9
8
65
43N HO
0
0
Production Possibility Frontier - Country Z
A
0.8
5
F
B
10,6
10,4
G
C
15,7
15, 4
10
15
Clothing - Daily production
D
18, 2
20
E
20,0
25
3. Answer the following questions about the Production Possibility Frontier for the country Z producing 2
groups of goods, cell phones and clothing.
(a) What is gained when country Z moves from B to C?
(b) What is given up when country Z moves from B to C?
(c) What is the opportunity cost of producing the first two cell phones?
(d) What is the opportunity cost of producing the last two cell phones?
(e) What happens to the opportunity cost of cell phones as country Z produces more of them?
4. Answer the following questions about the Production Possibility Frontier for the country Z producing 2
groups of goods, cell phones and clothing.
(a) Suppose country Z is producing at point F. How many more cell phones could it produce to reach
efficiency?
(b) Suppose country Z is producing at point F. How many more items of clothing could it produce to
reach efficiency?
(c) Aside from point F, list a point that is not efficient.

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