Food outputQUESTION 20Study the diagram and answer the question.Production possibility frontierA25B15HC10GD5E05 10 15 20 2530Film outputThis production possibilities frontier is concave to the origin because:resources are equally substitutable between the production of food and films.society can have more food only if it produces more films.a)b)c)the cost of food in terms of films is constant.d) the opportunity cost of food in terms of films increases and more films are produced.

Explanation in DetailThe production possibilities frontier (PPF) is a graphical representation that…

Answered: Food output QUESTION 20 Study the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Question 4 Which of the following statements about the production possibility frontier is correct? It is a tool a social planner would use to allocate goods to individuals. Its slope is also the marginal opportunity cost of the good on the x-axis. It illustrates the allocation of workers towards the production of two goods. Its slope is also the marginal opportunity cost of the good on the y-axis. Question 5 Suppose you grow tomatoes and cucumbers on your balcony. If you must give up growing 12 tomato plants to be able to grow 3 cucumber plants, then your opportunity cost of growing 1 cucumber plan is 4 tomato plants 3 tomato plants 1 tomato plant 2 tomato plants
Problem 1: Production Possibilities Frontier Consider an economy that produces bicycles and autos. The production possibilities schedule shown below denotes the points on the production possibilities frontier. Points Amount Bicycles Amount Autos A 10 B 8 D E 5 8 12 14 15 a) Draw the production possibilities frontier in a clearly labelled graph. You can assume the points on the frontier are connected by straight lines. Please put bicycles on the x-axis and autos on the y-axis. b) Is point E more efficient in production than point C? Explain. c) Based on this production possibility frontier, can the economy currently produce 8 bicycles and 10 autos? If not, explain what would need to happen to allow the economy to produce 8 bicycles and 10 autos. d) True/False/Uncertain (and explain): Point B more efficient in allocation than point A. e) Does this production frontier have increasing opportunity costs? Explain, and also explain why it is common for production frontiers to have increasing…
What is the per-unit opportunity cost of product Y as production moves from point B to point F? a) -4/3 b) 4/3 c) ¾ d) -¾ e) none of the above
Question 3 ( A B C D E Production Point Mountain Bikes a) straight-line; increase Ob) straight-line; decrease Oc) curved; decrease 0 30 50 60 65 d) curved; increase Beer 100 90 70 40 Refer to the table above. if you were to plot the points, then this would be a PPF, so when you try to produce 5 more mountain bikes from 60 to 65, the opportunity cost of beer will at a higher rate. 0
Identify the point or points for which the following is true: Production of pizza can be increased without sacrificing beer.
05. What is the per-unit opportunity cost of product Y as production moves from point D to point B? a) 6/7 b) -6/7 c) 7/6 d) -7/6
My dear hero expert bro and pro Hand written solution is not allowed.
Can I have help finding the solution?
Question 17 A graph that shows the maximum attainable combinations of two goods when society efficiently uses its productive resources is called a supply curve. opportunity cost. a production possibilities frontier (PPF). O absolute advantage. a consumer demand curve.
The prairie dog has always been considered a problem for Canadian cattle ranchers. They dig holes that cattle and horses can step in, and they eat grass necessary for cattle. Recently, ranchers have discovered that there is a demand for prairie dogs as pets. In some areas, prairie dogs can sell for as high as $150. Cattlemen are now fencing off prairie dog towns on their land so these towns will not be disturbed by their cattle. Draw a production possibilities frontier demonstrating a rancher’s production option between cattle production and prairie dog production, showing increasing opportunity cost and what would happen in each of the following situations (using a separate graph for each situation). The government grants new leases to ranchers, giving them 10,000 new hectares of grassland each for grazing. A drought destroys most of the available grass for grazing of cattle, but not prairie dogs since they also eat plant roots.
What is the per-unit opportunity cost of product Y as production moves from point D to point A?
A city passes a law that automobile prices may not increase. The auto market is currently in equilibrium. What will happen in that market if costs of producing autos increase? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a More than the allocatively efficient amount will be produced. b Less than the allocatively efficient amount will be produced. c The allocatively efficient amount will be produced but there will be a shortage. d The allocatively efficient amount will be produced but there will be a surplus.

SEE MORE QUESTIONS

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS