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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Table 2-1 Production Possibilities Tennis Rackets Tennis Balls 100 200 300 8,000 6,500 ? Refer to Table 2-1. If the production possibilities frontier is bowed outward, then which of the following could be the maximum number of tennis balls produced when 300 tennis rackets are produced? O a. 6,000. b. 5,500. O c. 5,000. O d. 4,500.
5. Opportunity cost and production possibilities Raphael is a skilled toy maker who is able to produce both trucks and kites. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Choice Hours Producing Produced (Trucks) (Kites) (Trucks) (Kites) A 8 0 4 0 B 6 2 3 10 C 4 4 2 16 D 2 6 1 19 E 0 8 0 20 On the following graph, use the blue points (circle symbol) to plot Raphael's initial production possibilities frontier (PPF). ( attached image) Suppose Raphael is currently using combination D, producing one truck per day. His opportunity cost of producing a second truck per day is( 1, 3, 16, 19 kites) per day. Now, suppose Raphael is currently using combination C, producing two trucks per day. His opportunity cost of producing a third truck per day is ( 1,6,10, or 16 kites) per day. From the previous analysis, you can determine that as…
The production possibilities curve below shows the hypothetical relationship between the production of guns (national defense) and butter (social goods) in an economy. Combination A B C D E Guns O 20 60 80 100 Butter 8 6 4 2 0 Your response should be a number ONLY. 1. What is the marginal opportunity cost of moving from 2 to 4 units of butter? Guns. 2. What is the total opportunity cost of producing the four (4) unit of butter? Guns
Adjust the production possibilities frontier (PPF) to show the economy's new production possibilities after the deterioration of infrastructure. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. QUANTITY OF CARS (Millions) 24 16 0 0 O 5 OO PPF 10 QUANTITY OF COMPUTERS (Millions) 15 Suppose society faces a broad tradeoff between allocating resources to the production of investment goods (computers) and consumption goods (cars) before the deterioration of infrastructure described above. PPF Which of the following events would be most likely to lead to the deterioration of infrastructure you just illustrated? Increasing production of investment goods and decreasing production of consumption goods Decreasing production of investment and consumption goods Increasing…
John is thinking about going to the movies tonight . A ticket costs $ 9 and he will have to cancel his baby - sitting job that pays $ 20 . The total opportunity cost of seeing the movie is O A ) $9 O B ) $29 O C ) Indeterminate O D ) $ 29 minus the benefit of seeing the movie
The production possibilities are listed below: Coconuts Pineapples 8. 2. 4 2 8. Which of the following best describes the PPF for the information above? Select one: O a. The opportunity cost of producing an additional pineapple decreases as the amount of coconuts produced decreases O b. The opportunity cost of producing an additional pineapple is the same at every point O c. The opportunity cost of producing an additional pineapple is zero at every point O d. The opportunity cost of producing an additional pineapple increases as the amount of coconuts produced increases 6. 4.
Suppose that United States is currently producing two goods: tanks and cars using its current resources. As the country is preparing for a war, it intends to produce more tanks and to do so, it starts coverting its car factories into tank factories. Which of the following is true? O The production possibilities curve will show the increasing opportunity costs as more tank is produced. The production possibilities curve for cars and tanks will shift outward. O The production possibilities curve will show decreased opprotunity costs as more tank is produced. O The production possibilities curve will shift inward.
Assume that Robyn wants to buy socks and once she finds out that the price per pair is $5. she decides to buy 4 pairs of socks. Which of the following is true? O a) The marginal benefit (or marginal utility) of the 5th pair is higher than the marginal cost of the Sth pair O b) The marginal benefit (or marginal utility) of the 4th pair must be equal to $20 O O The marginal benefit (or marginal utility) of the Sth pair must be lower than $5 O d) The marginal benefit (or marginal utility) of the first pair must be lower than 55
An owner of a landscaping business received extra income in the previous month. She is considering eitner buying a new lawnmower or spending the money on an advertisment in order to increase business in the next few months If the business owner chooses to spend the money on an advertising campaign, what is the opportunity cost? O A. more advertising O B. next month's income O C. the lawnmower O D. increased business
Fill in the blanks: Suppose that Jake and Jill have the ability to pick either apples or strawberries. The following table shows how much they can pick in one hour. Quantity Picked in One Hour Pounds of Apples Pounds of Strawberries Jake 8 4 Jill 10 10 If Jake and Jill each has 10 hours available and each person divides the time equally between picking apples and strawberries, then together they can pick pounds of apples and pounds of strawberries. Now if Jake spends all 10 hours picking apples and Jill spends all 10 hours picking strawberries, then together they can pick pounds of apples and pounds of strawberries.
The figure shows an economy's production possibilities frontier and identifies some production points. ....I Which points are efficient? O A. Points F and G only O B. Points A, B, C, F, and G O C. Points D and E only O D. Points A, B, C, D, and E O E. Points A, B, and C only

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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