Alexandra's Production PossibilitiesScheduleNumber of ScarvesKnitted per Day036912Multiple ChoiceO1/2 of a scarf1/3 of a scarf2 scarvesNumber of SweatersKnitted per Day3 scarves43What is the maximum a sweater would be traded for in this example?210Natalia's Production PossibilitiesScheduleNumber of Scarves Number of Sweaters.Knitted per DayKnitted per Day02468043210

Production possibilities frontier shows the maximum level of output that can be produced with the…

lexandra's Production Possibilities Schedule amber of Scarves Enitted per Day 0 3 6 9 12 Multiple Choice O 1/2 of a scarf 1/3 of a scarf Number of Sweaters Knitted per Day 2 scarves 4 3 2 t is the maximum a sweater would be traded for in this example? 1 0 Natalia's Production Possibilities Schedule Number of Scarves Number of Sweater Knitted per Day Knitted per Day 0 2 4 6 8 T 4 3 2 1 0

lexandra's Production Possibilities Schedule amber of Scarves Enitted per Day 0 3 6 9 12 Multiple Choice O 1/2 of a scarf 1/3 of a scarf Number of Sweaters Knitted per Day 2 scarves 4 3 2 t is the maximum a sweater would be traded for in this example? 1 0 Natalia's Production Possibilities Schedule Number of Scarves Number of Sweater Knitted per Day Knitted per Day 0 2 4 6 8 T 4 3 2 1 0

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The concept of opportunity cost is that the economic cost of using a factor of production is the alternative use of that factor that is given up. O the cost of production varies depending on the opportunity for technological application. O taking advantage of investment opportunities involves costs. O in a market economy, taking advantage of profitable opportunities involves some money cost.
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QUESTION 9 wine 90 80 70 60 50 40 30 20 10 0 0 10 England d) 2 bottles of wine/yard O e) 3 bottles of wine/yard PPF 20 30 40 50 09. What is the relative price (opportunity cost of one yard) of cloth in Portugal? O a) 1/3 bottles of wine/yard O b) 1/2 bottle of wine/yard O c) 4 man-hours/yard 60 cloth wine 90 80 70 60 50 40 30 20 10 0 0 10 Portugal PPF 20 30 40 50 60 cloth
Suppose the graph below shows Gilligan's daily production possibilities curve for coconuts and fish. Which points on the graph are efficient? Coconuts (lbs/day) 8 7 6 0 0 O Multiple Choice O O O 1 2 3 4 5 Point A A Fish (lbs/day) Point B C Point C B Both points A and B 6
QUESTION 10 product Y product Y 28 # 20 16 12 8 4 0 28 20 16 12 8 4 0 0 Fig. A Production Possibilities Frontier PPFO PPFO 4 8 PPFn 8 12 Fig. C Production Possibilities Frontier PPFn 16 12 Point E 20 16 24 product X Point E 20 product Y product Y 4 20 16 12 8 4 0 28 20 16 12 8 4 0 O 0 Fig. B Production Possibilities Frontier PPFO 4 PPFO PPFn 8 12 Fig. D Production Possibilities Frontier PPFn Point E 12 16 24 product X 16 20 Point E 20 24 product X 24 product X 10. Which of the above figures represents economic growth caused by an increase of resources specific to the production of product Y? (a) FIGA O (b) FIG B (c) FIG C O (d) FIG D
5. The relationship between marginal and average costs Consider the following scenario to understand the relationship between marginal and average values. Suppose Kenji is a professional basketball player, and his game log for free throws can be summarized in the following table. Fill in the columns with Kenji's free-throw percentage for each game and his overall free-throw average after each game. Game Result Season Total Game Free-Throw Percentage Average Free-Throw Percentage Game 1 80 2 UAWN 8/10 4/10 2/8 2/4 6/8 8/10 12/20 14/28 16/32 22/40 80
Which of points A–E is the most efficient? Explain.
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File Edit View Insert Format Tools Add-ons Help Last edit was 9 minutes ago 100% Normal text Arial 18 BIUA 三 =E - E - E 1 I 2 3 I 4 I 5 6 II 8 I I9 1n Here is the production possibilities table for war goods and civilian goods. Production Alternative Types of Production A Automobiles 4 8. Missiles 30 27 21 12 1. Draw a production possibilities curve for automobiles and missiles using the data above.