K The figure shows the production possibilities frontier for Felicia's Fine Foods, a petfood producer Draw a point that is attainable Label it Attainable Draw a point that is not attainable Label it Unattainable On a graph, where are the attainable points? Attainable points are A. on the PPF but not inside the PPF OB. inside the PPF but not on the PPF OC. outside the PPF OD. inside and on the PPF G D A 100- 90 80 70- 60 50- 40- 30- 10- Cat food (cans per month) 10 per month) 12 Dog food (cans >>> Draw only the objects specified in the question ROO

K The figure shows the production possibilities frontier for Felicia's Fine Foods, a petfood producer Draw a point that is attainable Label it Attainable Draw a point that is not attainable Label it Unattainable On a graph, where are the attainable points? Attainable points are A. on the PPF but not inside the PPF OB. inside the PPF but not on the PPF OC. outside the PPF OD. inside and on the PPF G D A 100- 90 80 70- 60 50- 40- 30- 10- Cat food (cans per month) 10 per month) 12 Dog food (cans >>> Draw only the objects specified in the question ROO

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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…
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1. PPF and CPF Josel's PPF is defined by Qosel F Josel and Kayla can produce food and luxury goods. Kayla 12-3Qosel and Kayla's PPF is defined by Qa 12 - 3Q Kayla Suppose that Josel and Kayla trade with each other (i.e., no outside merchants). Kayla and Josel agree to trade under the following conditions: 1) the terms of trade are 1 unit of food in exchange for 1 unit of luxury goods; 2) each specializes according to his/her comparative advantage; and 3) Kayla consumes 3 units of the good she produces. (a) = Sketch on two different graphs (one for Josel and one for Kayla) the individual PPFs, the individual CPFs, and indicate the individual points of pro- duction and the individual points of consumption. Clearly label your graphs (i.e., indicate values for slopes, intercepts, points of production, and points of consump- tion).
Ice cream (millions of gallons per year) 5 A 4 В 3 2 3 4 Milk (millions of gallons per year) The figure above shows the production possibilities frontier for a country. The opportunity cost of a gallon of milk between combination point A and Bis A) 4 gallons of ice cream for a gallon of milk. B) 3 gallons of ice cream for a gallon of milk. C) 1 gallon of ice cream for a gallon of milk. D) 1/3 of a gallon of ice cream for a gallon of milk. E) zero because at point A, zero milk is being produced.
The figure shows an economy's production possibilities frontier and identifies some production points. We can produce all combinations O A. inside the PPF and on the PPF O B. on the PPF and outside the PPF O C. on the PPF but not inside or outside the PPF D. inside the PPF, on the PPF, and outside the PPF O E. inside the PPF but not on the PPF or outside the PPE
based on the image and the PPF is point b efficient? why?
The table below list the different combinations of surfboards and tables that can be produced with a fixed quantity of resources 1. Production Possibilities Frontier Surfboards Tables 140 120 90 50 0 A. Plot the production possibilities frontier B. Show a point X that is both feasible and efficient IA JO B 50 C90 D 120 E 140 C. What is the opportunity cost of moving production from A to B? D. What is the opportunity cost of moving production from E to C? E. Does this PPF display the Law of Increasing Opportunity Cost? Explain
Beth can read 30 pages of astronomy in an hour. She can also read 20 pages of sociology in an hour. She spends 6 hours per day studying. **Use the blue line (circle symbol) to draw Beth's production possibilities frontier (PPF) for reading astronomy and sociology. Diagram has Astronomy Pages on the left from 0-200 in increments of 20's On the bottom of the Diagram it lists Sociology Pages numbered the same fom 0-200 in increments of 20. Beth's opportunity cost of reading 60 pages of sociology is ___________ pages of astronomy.
Graphing QuestionSuppose that WestJet can provide 700 flights per day and the opportunity cost of providing a flight is constant. WestJet reaches allocative efficiency when it provides 400 Western flights and 300 Eastern flights per day Draw and label WestJet's production possibilities frontier. Make sure the PPF intersects both axes.Draw a point to show the allocative efficiency. Label it P1Draw a point to show a combination of flights that doesn't use all of WestJet's resources. Label it P2
Use the PPF to answer the following question: 1. Can we determine if Point F is allocatively efficient?
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 50 40 30- A 20 10 D 20 20 40 50 60 (a) 40 eggs (b) 10 eggs (c) 20 eggs (d) 30 eggs (e) 50 eggs Explain: _ ||| 38 Egys