ating producing an additional 15 units of bacon is: Exhib: 6 unang 40 30 20 10. oppo

Would a research study on the effects of soft drink consumption on childrens cognitive development he a positive or normative statement?

Figure 1 The production possibility frontier ABCDE is a production possibility frontier. It shows the different combinations of goods which can be produced if all resources are fully and efficiently utilised. The economy can produce at any point on the line. It cannot produce at G because the PPF shows the maximum that can be produced. It can produce within the PPF,05 such as at F, but less will be produced than the maximum possible. Non-manufactured goods 50 40 30 20 10 0 A 10 B Ti C 20 30 Manufactured goods G D E 40

Q19 solutio n neded

Which of points A–E is the most efficient? Explain.

Q20  solution needed

The data below describe the current production possibilities for an economy that produces two goods: Livestock Products and Aquaculture products Quantities that can be produced per month with the currently available resources Aquaculture products 6000 5900 5700 5400 5200 4100 Livestock products 0 100 200 300 350 500 Label point A B C D E F Required: (a) Explain the existence of opportunity costs in this situation. (b) Plot the PPF. Put Livestock goods on the vertical axis; Aquaculture on the horizontal axis. Label the points. Be sure each axis is to scale. Scales can differ between axes. (c) “Your PPF slopes down because of tradeoffs.” Explain that sentence in words that make sense to someone not taking economics.

1. If the economy is operating at point C in the PPF below, the opportunity cost of producing an additional 15 units of bacon is: Exhib: 6 Bacon 50 40 30 20 10 20 20 (a) 40 eggs (b) 10 eggs (c) 20 eggs (d) 30 eggs (e) 50 eggs Explain: E 40 50 60 70 Fus

Below is a production possibilities curve involving tea and videos. 2000 1600 1200 N 800 400 PPI Quantity of tea per year (in tonnes) 100 200 300 400 500 600 700 Quantity of videos per year (in thousands) PPIN Refer to the graph above to answer this question. What is indicated by the shape of both the PPI and the PPII curves? Select one: A. Constant costs. B. Increasing costs. C. Alternative costs. X D. Decreasing costs.

1. If the economy is operating at point C in the PPF below, the opportunity cost of producing an additional 15 units of bacon is: Exhib:6 unang 50 50 40 30 20 10. 20 20 E (a) 40 eggs (b) 10 eggs (c) 20 eggs (d) 30 eggs (e) 50 eggs Explain: 8 30 40 50 60 70