Do i, ii, iii a. The following table below shows the production possibilities combination of two products in a particular country: computer and televisionComputer (unit)Television (unit)A060B45iii. What causes an inefficient point in a PPC.10CombinationC3020D1530E040i. Based on the table above, sketch the production possibilities curve (PPC) for the country.ii. Calculate the opportunity cost for the first 10 units of televisions. State the type of opportunity cost faced by the country.

Production function shows the different combinations of two goods that can be produced with…

Answered: a. The following table below shows the…

a. The following table below shows the production possibilities combination of two products in a particular counts Computer (unit) A 60 B 45 Combination C 30 D 15 E

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 6SQP

See similar textbooks

Similar questions

Using the PPC in question A answer the following questions (c,d) C. If the economy is producing 3 automobiles and 20 forklifts, what would you conclude about this economies use of resources? D) What would production at a point outside the PPC indicate?
Suppose a society called Atlantis faces the production possibilities curve (PPC) as given below. a) what is the opportunity cost'Sf increasing fish production from 300 pounds to 500 pounds? b) Will Atlantis choose to produce at point G? Please briefly explain. Quantity of fish (pounds) F 675 650 600 E 500 300 Atlantis PPF
Construct a Production Possibilities Curve in Excel based on the following Production possibilities Schedule: Missiles Milk (millions of gallons) 0 4010 34 20 2730 1940 1050 0 What is the "shape" or the "slope" of the frontier or curve? Calculate the opportunity cost of producing the "first" batch of 10 missiles. Calculate the opportunity cost of producing the "last" batch of 10 missiles. What would it mean if the economy was operating at the frontier? What would happen to the frontier if the production technology improves?
Why is it inefficient for an economy to be inside the production possibilities frontier?
5. Opportunity cost and production possibilities Van is a skilled toy maker who is able to produce both trucks and balls. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Hours Producing Produced Choice (Trucks) (Balls) (Trucks) (Balls) A 8 4 B 6 2 3 8 4 4 2 13 D 2 6 1 15 E 8 16 On the following graph, use the blue points (circle symbol) to plot Van's initial production possibilities frontier (PPF).
The table below shows the production possibilities for Canada and Japan. Suppose that, prior to specialization and trade, both Canada and Japan are producing combination C. Product DVD players Bushels of wheat Product DVD players Bushels of wheat DVD players 100 80 60 40 20 0 20 A Canada 40 60 A 20 0 A 40 0 Quantity of wheat per period 80 B 15 20 a) Draw the production possibilities curve for Canada in the graph A, and indicate its present output position. Draw the production possibilities curve for Japan in graph B, and indicate its present output position. Plot only the endpoints of each curve in the graphing areas using the appropriate tool. Plot the output combination in each graph using the Point tool. 100 B 30 7.5 CANADA'S PRODUCTION POSSIBILITIES C 10 40 JAPAN'S PRODUCTION POSSIBILITIES с 20 15 Tools PP Curve combination D 5 Trading Possi New combina 60 D 10 22.5 E 0 80 E 0 30
Two neighboring island nations, Seychelles and Mauritius, produce iPad's, coffee, or a combination of both. Suppose that they each have 4 million labor hours available per week for production. The following table gives the amount of each product that can be produced using one hour of labor: Country Mauritius Seychelles Mauritius' opportunity cost of produing 1 iPad is iPads (per hour of labor) 12 of coffee. Therefore, 8 Initially, suppose Mauritius uses 1 million hours per week to produce iPads and 3 million hours per week to produce coffee, while Seycheles uses 3 million hours of labor per week to produce iPads and 1 million hours per week to produce coffee. Consequently, Mauritius produces 12 million iPads and 72 million pounds of coffee, and Seychelles produces 24 million iPads and 32 million pounds of coffee. Assume there are no other countries willing to trade with them. So, if Mauritius and Seychelles don't trade with each other, they can only consume what they can produce using…
Suppose that a nation currently is producing combination D in the table below and on the graph of the production possibilities curve to the right. What is the opportunity cost of producing 5.0 million more smartphones and moving to production combination C? Combination A B DCDEFG Smartphones (millions per year) 50.0 48.0 45.0 40.0 33.0 22.5 0.0 Tablets (millions per year) 0 10 20 30 40 50 60 The opportunity cost of producing 5.0 million more smartphones and moving from production combination D to production combination C is million tablet devices per year. (Enter your response as a whole number) 500 호 Smartphones (millions per year) 30- 20- 10- A 0 B C F 10 20 30 40 50 60 Tablet Devices (millions per year)
Suppose the United States produces only two goods: alfalfa and computers. The following graph shows the United States’s current production possibilities frontier, along with six output combinations represented by black points (plus symbols) labeled A to F. Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, attainable, or unattainable. Check all that apply. (refer to screenshot for table and graph)
Suppose Ireland produces only two goods: barley and tablets. The following graph shows Ireland's current production possibilities frontier, along with six output combinations represented by black points (plus symbols) labeled A to F. 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
A production possibilities table for DVDs and computers is shown below. Type of Production Computers DVDS A 0 80 Production Alternatives B 20 65 C 40 47 D 60 27 E 80 0 Instructions: Enter your answers as a whole number. a. What is the opportunity cost of computers when moving from point A to point B? DVDs b. What is the opportunity cost of computers when moving from point B to point C? DVDs c. What is the opportunity cost of computers when moving from point C to point D? DVDs d. What is the opportunity cost of computers when moving from point D to point E? DVDs e. As we produce more computers, opportunity costs are [(Click to select):
Consider the diagram. Which of the following statements about the PPF are true? a b с Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. d e E is an inefficient production point. Wine A, B, C and D are all efficient production points. F and G are both unattainable production points. A and D are inefficient. All of the above are true. we 0 Bread D