Ned owns a small electronics repair business. He can either repair iPhones or Samsung phones. If he only repairs iPhones he canrepair 16 phones in a day. If he only repairs Samsung phones, he can repair12 in a day. Drag the endpoints of the line to plot hisproduction possibilities frontier (PPF) on the graph.iPhones repaired per day20181614୯12108642002468 10 12 14Samsung phones repaired per day16Ned's PPF1820What is the opportunity cost of iPhone repairs production(in terms of Samsung repairs/iPhone repairs)?163/4121/24/32 Answer the two questions relating to supply and the law of supply.Which would cause a shift in the supply curve?This would happen ifthe demand curve shifted.buyers' incomes changed.What would happen if the price of kayaks increased?If the price increased,sellers would offer more kayaks for sale.the supply of kayaks would decrease.the price of a good changed.one of the determinants of supply changed.sellers would offer fewer kayaks for sale.O the supply of kayaks would increase.

The production possibility frontier or transformation curve is a curve that indicates various…

Ned owns a small electronics repair business. He can either repair iPhones or Samsung phones. If he only repairs iPhones he can repair 16 phones in a day. If he only repairs Samsung phones, he can repair12 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. iPhones repaired per day 20 18 16 14 12 10 8 4 2 0 10 45 16 Ned's PPF 19 What is the opportunity cost of iPhone repairs production (in terms of Samsung repairs/iPhone repairs)? 16 3/4 12 1/2 4/3 2

Ned owns a small electronics repair business. He can either repair iPhones or Samsung phones. If he only repairs iPhones he can repair 16 phones in a day. If he only repairs Samsung phones, he can repair12 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. iPhones repaired per day 20 18 16 14 12 10 8 4 2 0 10 45 16 Ned's PPF 19 What is the opportunity cost of iPhone repairs production (in terms of Samsung repairs/iPhone repairs)? 16 3/4 12 1/2 4/3 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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