# Efficiency in the Production Possibilities ModelSuppose Germany produces only two goods: corn and tablets. The following graph shows Germany’s current production possibilities frontier, along with six output combinations represented by black points (plus symbols) labeled A to F.### Graph Description:- **Axes:** - The horizontal axis represents "CORN (Millions of bushels)." - The vertical axis represents "TABLETS (Millions pcs)."- **Curve:** - The production possibilities frontier (PPF) is displayed as a downward-sloping curve from left to right.- **Points:** - **A:** Above the PPF, at approximately 60 million bushels of corn and 50 million tablets. - **B:** On the PPF, at approximately 60 million bushels of corn and 20 million tablets. - **C:** On the PPF, at approximately 40 million bushels of corn and 40 million tablets. - **D:** Inside the PPF, at approximately 10 million bushels of corn and 10 million tablets. - **E:** Inside the PPF, at approximately 20 million bushels of corn and 5 million tablets. - **F:** Above the PPF, at approximately 50 million bushels of corn and 90 million tablets.### Table: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 ||-------|-------------|-----------|--------------|| A | [ ] | [ ] | [ ] || B | [ ] | [ ] | [ ] || C | [ ] | [ ] | [ ] || D | [ ] | [ ] | [ ] || E | [ ] | [ ] | [ ] || F | [ ] | [ ] | [ ] |

Production Possibility Frontier represents the different combination of goods that the firm can…

3. Efficiency in the production possibilities model Suppose Germany produces only two goods: corn and tablets. The following graph shows Germany's current production possibilities frontier, along with six output combinations represented by black points (plus symbols) labeled A to F. B с D TABLETS (Millions) E 100 LL 80 60 40 20 0 0 PPF 0+ 20 Point Inefficient Efficient Unattainable A 0 +w 0 Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, or unattainable. Check all that apply. хс 40 m 60 CORN (Millions of bushels) 0 80 O 100 ?

3. Efficiency in the production possibilities model Suppose Germany produces only two goods: corn and tablets. The following graph shows Germany's current production possibilities frontier, along with six output combinations represented by black points (plus symbols) labeled A to F. B с D TABLETS (Millions) E 100 LL 80 60 40 20 0 0 PPF 0+ 20 Point Inefficient Efficient Unattainable A 0 +w 0 Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, or unattainable. Check all that apply. хс 40 m 60 CORN (Millions of bushels) 0 80 O 100 ?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Use the following production possibilities tables to answer the next question. Possibilities C 8 24 A Autos (millions) 0 Chemicals (millions) 40 Germany's Production B 4 32 United States' Production B 3 48 A Autos (millions) 0 Chemicals (millions) 60 Multiple Choice O O 8 million units of autos. D 12 16 Possibilities D 9 24 6 million units of autos. C 6 36 Assume that prior to specialization and trade Germany and the United States both produced combination C. Now if each nation specializes according to its comparative advantage, the resulting gains from specialization and trade will be 6 million units of autos and 8 million units of chemicals. E 16 8 8 million units of autos and 6 million units of chemicals. E 12 12 F 20 20 F 15 0
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Both Geppetto and Lewis are toy store owners. They decide that they would like to trade puzzles and puppets in order to better stock their toy store shelves. The table below compares their production possibilities schedules. Production Possibilities Schedules Geppetto Lewis Puzzles Puppets Puzzles Puppets 90 75 10 8 60 15 12 16 45 20 8 24 30 25 32 40 030 Instructions: Enter your answers as a whole number. a. Geppetto and Lewis agree to trade at a rate of 3 puzzles for each puppet. With those terms of trade, who is most likely to be the supplier of puzzles? Who is most likely to be the supplier of puppets? Puzzles: (Click to select) Puppets: (Click to select) b. The two toy store owners agree to specialize and to trade 30 puzzles for 10 puppets. The terms of trade are still 3 puzzles for each puppet. How many puzzles and puppets will each one have after they complete their trade? Lewis: puzzles and puppets Geppetto: puzzles and puppets
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Please provide a graph