3 units of tanks. 1 unit of tanks. 650 units of autos. 1,500 units of autos. A nation can produce two products: tanks and autos. The table below is the nation's production possibilities schedule.Production PossibilitiesProductABETanks123.4Autos1,000950850650350In moving from combination D to C, the opportunity cost of producing 200 more autos is

The production possibilities curve “is a frontier between all combinations of products that can be produced in the economy, and those combinations that cannot be produced with given level of resources” In moving from combination D to C, the opportunity cost of producing 200 autos is 1 tank forgone Here answer is “1 unit of tanks”

Answered: In moving from combination D to C, the…

Business

Economics

In moving from combination D to C, the opportunity cost of producing 200 more autos is

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter7: Economic Growth: Theory And Policy

Section: Chapter Questions

Problem 4TY

See similar textbooks

Related questions

Q: An animal shelter has a total of 350 animals comprised of cats, dogs, and rabbits. If the number of…

A: To calculate:The number of each animal at the shelter.

Q: what kind of data is used in BI

A: BI Stands for Business Intelligence it refers to the applications, technologies & practices for…

Q: Handout 1 Real-Life Balance Sheets - - John John is a 28-year-old father of two. He lives in a house…

A: Assets are the items you own that can provide future economic benefit. Liabilities are what you owe…

Q: I need typing clear urjent no chatgpt use i will give 5 upvotes

A: Approach to solving the question: we have used vector approach to solve the question by doing cross…

Q: 2. A person considers the following four criteria for buying a car. The pairwise comparison matrix…

A: The weights are supposed to represent the relative significance of the different products and…

Q: Question is pinned below

A: (A) Milk is a key ingredient for producing cheese. A fall in the price of milk in the market will…

Q: Where did the 1/2 come from or what is it.

A: Producer surplus is the area below price and above supply curve. Producer surplus is the area of…

Q: Low involvement purchases typically involve very limited, mostly internal/memory based information…

A: According to the consumption behavior of the individual, the low involvement purchase goods become…

Q: Agricultural Decision a) A farmer has a 10-acre field and can grow either whear or barley on it. If…

A: Production possibility frontier denotes all the points of production where all the resources in the…

Q: The ratio of Consumption to savings is given as 5/3 Calculate the value of savings if the value of…

A: # in the above question we are given the value of income to be as $6000 and we need to calculate the…

Q: There are four suppliers in the packed meals market. The quantity of packed meals that each one is…

A: A market is a place where the buyers and sellers will interact with each other and determine to…

Q: I just went to check my answers for question 4 and 5 on the homework. These questions are based off…

A: Answer: (4). The formula of elasticity of demand is given below: ED=dQdPr×PriceQuantity Since the…

Q: whats the answer to questions 4 and 5

A: Producer surplus: Producer surplus is the benefits that the sellers received by selling products in…

Question

100%

3 units of tanks.
1 unit of tanks.
650 units of autos.
1,500 units of autos.

A nation can produce two products: tanks and autos. The table below is the nation's production possibilities schedule.
Production Possibilities
Product
A
B
E
Tanks
1
2
3.
4
Autos
1,000
950
850
650
350
In moving from combination D to C, the opportunity cost of producing 200 more autos is

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What does a production possibilities frontier illustrate?
Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a positive or normative statement?
Residents of the town of Smithfield like to consume hams, but each ham requires 10 people to produce it and takes a month. If the town has a total of 100 people, what is the maximum amount ham the residents can consume in a month?
Review the numbers for Canada and Venezuela from Table 33.12 which describes how many barrels of oil and tons of lumber the workers can produce. Use these numbers to answer the rest of this question. Draw a production possibilities frontier for each country. Assume there are 100 workers in each country. Canadians and Venezuelans desire both oil and lumber. Canadians want at least 2,000 tons of lumber. Mark a point on their production possibilities where they can get at least 3,000 tons. Assume that the Canadians specialize completely because they figured out they have a comparative advantage in lumber. They are willing to give up 1,000 tons of lumber. How much oil should they ask for in return for this lumber to be as well off as they were with no trade? How much should they ask for if they want to gain from trading with Venezuela? Note: We can think of this ask as the relative price or trade price of lumber. Is the Canadian ask you identified in (b) also beneficial for Venezuelans? Use the production possibilities frontier graph for Venezuela to show that Venezuelans can gain from trade.
Explain why societies cannot make a choice above their production possibilities frontier and should not make a choice below it.
France and Tunisia both have Mediterranean climates that are excellent for producing/harvesting green beans and tomatoes. In France it takes two hours for each worker to harvest green beans and two hours to harvest a tomato. Tunisian workers need only one hour to harvest the tomatoes but four hours to harvest green beans. Assume there are only two workers, one in each country, and each works 40 hours a week. Draw a production possibilities frontier for each country. Hint: Remember the production possibility frontier is the maximum that all workers can produce at a unit of time which, in this problem, is a week. Identify which country has the absolute advantage in green beans and which country has the absolute advantage in tomatoes. Identity which country has the comparative advantage. How much would France have to give up In terms of tomatoes to gain from trade? How much would it have to give up in terms of green beans?