45PPF2i ofPPF1Quantity of TacosWhich of the following most likely caused the shift from PPF1 to PPF2 shown in the diagram?Select one:a. An increase in resources.b. Better technology for both tacos and sushi.C.Better sushi technology.d. Better taco technology.Quantity of Sushi

Production possibility frontier is a curve that represents the amount of varying outputs for two…

Answered: PPF2 PPF, Quantity of Tacos Which of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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6. The interaction of individual choices Immediately after an ice storm brought down power lines throughout the region, hardware stores were sold out of batteries and flashlights. However, within a couple of days, special deliveries brought in extra batteries and flashlights, and everyone who wanted to buy a flashlight or batteries was able to do so. Which of the following principles of economic interaction best describes this scenario? O Markets allocate goods effectively. O All costs are opportunity costs. O When markets do not achieve efficiency, government intervention can improve overall welfare. There are gains from trade.
F Velma, a book editor for a local publishing company, and Daphne, an opera singer in a local opera company, share a townhouse in Miami. Velma enjoys reading and editing books at home, and Daphne enjoys rehearsing her arias at home. Daphne is willing to pay Velma $200 per week if she will find another place to read and edit books. Velma offers Daphne $240 per week to find someplace se to rehearse if Daphne has the right to rehearse in her home, explain why the townhouse will be free of arta rehearsals. If Veima has the right to read and edit books in her home, explain why the townhouse will be free of aria rehearsals. If Daphne has the right to rehearse her arias, A. she has to leam to enjoy silence. OB. she will only accept a payment more than $240 from Velma to stop rehearsing at home. OC. she will be willing to accept some payment less than $200 from Velma to stop rehearsing at home. OD. she will be willing to accept some payment between $200 and $240 from Velma to stop rehearsing…
Multiple Choice Question A shift to the right of the PPC for both products indicates which one of the following? O The actual output of both products decreases O The potential output of both products increases O The actual output of both products increases. Need help? Review these concept resources. Read About the Concept
2. Determining opportunity cost Suppose that Ciana is deciding whether or not to buy a pair of sneakers that she has been researching online, and also the best place to make her purchase. Three different stores in the area sell the sneakers she likes, but some stores are more convenient for Ciana to reach than others. One option is her local shoe store located only 15 minutes away from where she works, where they charge a marked-up price of $112 for the sneakers: Ciana earns an hourly wage of $42 at her job. In order to purchase her sneakers she will have to take time off work, so each hour away from her job costs her $42 in lost income. Assume that Ciana’s travel time is the same each way (to and from the store) and that it will take her 30 minutes once she reaches a store to complete her shopping. Assume throughout the question that Ciana incurs no additional costs other than the sneakers, such as gas. Complete the following table by computing the opportunity cost of…
Consider the figures above. In Economy B, the opportunity cost of making O A. butter in terms of guns is decreasing. O C. guns in terms of butter is decreasing. O E. butter in terms of guns is lower than in EconomyA. Quantity of Guns Production Possibilities Boundary Economy A 1 2 Quantity of Butter Q Quantity of Guns Production Possibilities Boundary Economy B 6 7 8 Quantity of Butter OB. butter in terms of guns is increasing. O D. butter in terms of guns is higher than in Economy A.
Figure 5.11 Tattoos 20 17- 15- 14- 12.5 10- 5- BC 0 234 68 10 12 14 16 18 20 Football tickets Reference: Ref 5-11 (Figure 5.11) When the price of football tickets increases, the substitution effect decreases the number of tickets bought from: Select one: O a. 6 to 3. O b. 6 to 4. BC Oc 4 to 3. O d. 20 to 8. Clear my choice
MCQ QUESTION! may i ask how did u get the answer?
Van brings $40 to a baseball game to spend on sodas and pizza. The following diagram shows his budget constraint: SUCES OF PIZZA 20 18 16 14 12 4 2 0 4 6 U BC 10 SODAS According to the diagram, sodas cost 5 12 14 16 18 20 each, and puzza costs $ BC ? per slice. Adjust the diagram to show how Van's budget constraint would change if he had brought more money to the ballpark (Assume the prices of sodas
Multiple choice question :
Based on the production possibilities frontier shown below, if this economy decides to shift its resources from only producing books in order to produce 8,000 pairs of sneakers, what is the opportunity cost of producing one pair of sneakers? Books (in thousands) 12 10 8 O 2 pairs of sneakers 2 books 6 0.25 pairs of sneakers O 0.25 books Pairs of Sneakers (in thousands) 10 12
Question 16 The fact that the PPF usually bows away from the origin implies that O getting more of one good means getting less of another good. as the production of any good increases, there is a decrease in the opportunity cost of producing it. O getting more of one good means getting more of another good. as the production of any good increases, there is an increase in the opportunity cost of producing it.
Question 14 The illustrates the various combinations of output that a society can produce if all of its resources are being used efficiently. O production possibilities frontier (PPF) O law of positive statements O principle of comparative advantage concept of absolute advantage O law of demand

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PPF2 PPF, Quantity of Tacos Which of the following most likely caused the shift from PPF1 to PPF2 shown in the diagram? Select one: O a. An increase in resources. O b. Better technology for both tacos and sushi. C. Better sushi technology. O d. Better taco technology. Quantity of Sushi