estion 1 Towns M OL Refer to the above figure. This economy has the ability to produce at which point(s)? O b. K, M, N O a. J, K, M, N Oc. K. N O d. M
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- Question 20 (Table) The table shows coffee and tea units produced for the United States and Japan. If Japan decides to increase production of tea from 20 units to 35 units, the opportunity cost s: United States Coffee 25 20 15 10 6 5 8 Tea 4 10 Japan 58 38 25 Coffee Tea 15 7 0 3 10 20 35 60 O A. 15 units of tea. B. 10 units of tea. C. 10 units of coffee. O D.8 units of coffee.QUESTION 11 Figure 2-16 Gadgets 120- 110+ 100 90+ 80 + 70 + 60 8 50 2222 40+ 30 20 10 + A O 3. 8 D 10 20 30 40 50 60 70 80 90 100 Widgets Refer to Figure 2-16. Suppose this economy is producing at point B. Which of the following statements would bes explain this situation? a. The economy is getting all it can from the scarce resources available. b. The economy's available technology prevents it from producing more of either product. c. The economy does not have enough resources to produce more of either product. d. There is widespread unemployment in the economy.Briefly explain
- The countries with the highest mean incomes are also the countries with the highest O savings to income ratios O apital to labor ratios capital to savings ratios O labor to capital ratiosThe following table and production possibilities frontier provide information about the production possibilities of Apple, a manufacturer of electronics. Use it to answer questions 15-19. Point HEUREK iPhone 600 500 400 iPhone iPod Touch 0 100 200 300 400 500 420 400 360 300 200 0 300 200 100 0 Apple's Production Possibilities 100 200 B 300 400 500 600 iPod TouchWhat causes people to move their resources around in search of the highest return? Select one: a. Cheap information technology like the internet. O b. People only care about the welfare of others. c. Government ensures that no one wastes resources. O d. People want to be as well off as they can be. Check Next page page Unit 4 Solutions Jump to... HW Unit 4 DUE March 3 ► ogged in as Ashli-Amari Bent (Log.out) 0on-2021/SPRING/DAY MacBook Pro G Search or type URL & ( 4 7 8 CO %24
- Potatoes (tons) 8 100 200 300 400 500 Sausages (tons) 400 350 300 a. If the two countries decided to combine their resources, what is the maximum amount of potatoes the two countries could produce? O 250 tons O 500 tons O 1,000 tons 750 tons 250 b. If the two countries decided to combine their resources, what is the maximum amount of sausages the two countries could produce? 200 Sausages (tons) 158 128 98 150 100 250 tons 350 tons c. If the two countries specialize and produce the good in which they have a comparative advantage. what is the maximum combination of potatoes and sausages they can produce together? 50 60 30 8 150 tons 750 tons O 750 tons of potatoes and 350 tons of sausages 500 tons of potatoes and 200 tons of sausages 650 tons of potatoes and 450 tons of sausages 250 tons of potatoes and 150 tons of sausages d. Using the three combined amounts of production, graph the combined production possibilities frontier for Ireland and Scotland. Instructions: Use the tool provided…Production possibility curve shows ____________. a. All of these b. The output that can be produced by an economy. c. Level of output with minimum wastage of inputs d. Production of two products that are produced by an economyThe four categories of income in the economy are: wages, rent, interest, profit O consumption, investment, government spending, net cxports O consumption, saving, taxcs, government spending O labor, land, capital. tcchnology
- How do firms and individuals determine if it's worth it to (a) invest in capital improvements, (b) hire additional workers, or (c) decide where to work? pleae explain with simple examples that easy to understood i really appreciatedSystem (Academic) les of Microeconomics || Fall20 At the current level of output, the marginal social benefit of pizza exceeds the marginal social cost of pizza. Compared to the allocatively efficient quantity, we are producing too of other goods, pizza and too Select one: on O a. much; little O b. much; much Oc. little; much O d. little; little 00 HUAWEI Nova 3 Al CAMERA Dage Next pacO Efficiency Which of these economic goals is most important in a command economy? Growth Equit Freedom Efficiency Which of these economic goals is most important in a Traditional