Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, attainable, or notattainable. Check all that apply.InefficientEfficientAttainableNot attainablePointABEFO O (O 2. Efficiency in the production possibilities modelSuppose Bulgaria produces only two goods: wheat and cars. The following graph shows Bulgaria's current production possibilities curve, along with sixoutput combinations represented by black points (plus symbols) labelled A to F.10080PPC604020AF20406080100WHEAT (Millions of bushels)CARS (Milli ons)+

A Production Possibility Curve represents the maximum possible combination of two goods that an…

Answered: Complete the following table by…

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 3SQ

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Crystal is a talented artist who sells hand-crafted goods on her website. Crystal currently crafts and sells both tea towels and baskets. She spends 8 hours a day working on crafts. The following table gives different daily output scenarios depending on how much of her time is spent on each good. BASKETS Choice (Tea towels) A B C D E 30 25 20 15 10 5 Hours Crafting 0 0 8 6 4 2 0 On the following graph, use the blue points (circle symbol) to plot Crystal's initial production possibilities frontier (PPF). 2 (Baskets) (Tea towels) 0 2 4 6 8 3 4 TEA TOWELS 5 4 3 6 2 1 0 Produced 7 (Baskets) 0 10 16 19 8 20 Initial PPF New PPF
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Suppose Ireland produces only two goods: barley and cars. The following graph shows Ireland's current production possibilities frontier (PPF), along with six output combinations represented by black points (plus symbols) labeled A to F. 100 80 メ8 PPF 46, 36 40 メイ 20 20 40 60 80 BARLEY (Millions of bushels) 100 CARS (Millions) et
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Juanita is a talented artist who sells hand-crafted goods on her website. Juanita currently crafts and sells both tea towels and pillows. She spends 8 hours a day working on crafts. The following table gives different daily output scenarios depending on how much of her time is spent on each good. Hours Crafting Produced Choice (Tea towels) (Pillows) (Tea towels) (Pillows) A 0 4 0 B 2 3 10 4 2 16 6 1 19 0 20 PILLOWS C D E 30 25 On the following graph, use the blue points (circle symbol) to plot Juanita's initial production possibilities frontier (PPF). 20 2 10 5 0 D 8 6 4 1 NO 2 8 + 2 3 4 TEA TOWELS 5 8 7 Initial PPF 4 New PPF Suppose Juanita is currently using combination D, producing one tea towel per day. Her opportunity cost of producing a second tea towel per day is per day. Now, suppose Juanita is currently using combination C, producing two tea towels per day. Her opportunity cost of producing a third tea towel per day per day. is
The condition that arises because the availableresources are insufficient to satisfy wantsSelect one:O aa. ScarcityO b. DeflationO c. CredibilityO d. Rationality
Long answer Explain all resources that economic relies on.

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Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, attainable, or not attainable. Check all that apply. Point Inefficient Efficient Attainable Not attainable A D E F