Production Production Point chocolate bars cans of cola A 100 10 90 C 20 70 D 30 40 E 40 The above table shows production points on Sweet-Tooth Land's production possibilities frontier. What is the opportunity cost of one can of cola if Sweet-tooth Land moves from point C to point B? Select one: O a. 20 chocolate bars per can of cola O b. 10 chocolate bars per can of cola O c. 2 chocolate bars per can of cola O d. 1/2 chocolate bars per can of cola

Production Production Point chocolate bars cans of cola A 100 10 90 C 20 70 D 30 40 E 40 The above table shows production points on Sweet-Tooth Land's production possibilities frontier. What is the opportunity cost of one can of cola if Sweet-tooth Land moves from point C to point B? Select one: O a. 20 chocolate bars per can of cola O b. 10 chocolate bars per can of cola O c. 2 chocolate bars per can of cola O d. 1/2 chocolate bars per can of cola

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 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
Please choose the correct answer?
30)
Actual output equals potential output... O A. On the production possibilities curve O B. Within the production possibilities curve O C. Beyond the production possibilities curve O D. When the production possibilities curve shifts outwards
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.
Wine (thousands of bottles per year) The figure shows the production possibility frontier for a country. Suppose the country is producing at point E. What would be the opportunity cost to increase the production of wine to 9 thousand bottles? B 15 12 O A. 12 tons of rice B. 3 tons of rice D 9 O C. 15 thousand bottles of wine 6. D. Nothing, it is a free lunch 3 E. 9 thousand bottles of wine 12 15 Rice (tons per year) 3 6
QUESTION 26 Which of the following is not correct? A typical production possibilities curve O A. indicates how much OB.reveals how much each of two products a society can produce additional unit of one product will cost in terms of the other OC specifies how much of each O D. indicates that to produce more of one product society must forgo larger and larger amounts product society should produce product
In economics, normative statements are about Select one: O a. the way things are. O b. the way things ought to be. Oc. marginal benefits, not marginal costs. O d. marginal costs, not marginal benefits. The production possibilities frontier bows outward because Select one: O a. opportunity costs are decreasing as the production of a good increases. O b. resources are of uniform quality. Oc. opportunity costs are increasing as the production of a good increases. O d. opportunity costs are fixed as the production of a good increases.
Opportunity cost can be measured as the: Select one: O a. Increase in the quantity produced of one good divided by the decrease in the quantity produced of another good as we move along the production possibilities frontier. b. Decrease in the quantity produced of one good divided by the increase in the quantity produced of another good as we move along the production possibilities frontier. c. Increase in the quantity produced of one good as we move along the production possibilities frontier. d. Decrease in the quantity produced of one good as we move along the production possibilities frontier.
What happens if a country produces a combination of goods that efficiently uses all of the resources available in the economy? 100- O A. The country has eliminated scarcity. O B. The country is maximizing its opportunity cost. A 80- c. The country is operating on its production possibilities frontier. B G O D. All of the above occur if a country uses all available resources. 60- Refer to the graph to the right. What is the opportunity cost of moving from point B to point C? 40- O A. 40 sedans 30 F **... O B. 40 SUVS D 20- O C. 20 sedans O D. 20 SUVS 10 50 E 20 40 60 80 100 Quantity of SUVS produced per day Quantity of sedans produced per day
Can you answer please?
= Quantity of clothing (pounds) 20 12 ย 6 4G ↓↑ The diagram given below depicts the PPF for Country Noville that only produces clothing and food. Use it to answer the question that follows: 1 83% 1:24 am 16 1 B 28