Question 16Homework • UnansweredSuppose that in the country of England, two goods can be produced on available agricultural land:wine and wool. Suppose that the opportunity costs of production are constant, so that the PPF is astraight line. Further, when all resources are devoted to wine production, England can produce 200(thousand) barrels. When all resources are devoted to wool production, England can produce 400(thousand) bushels of wool.What are the opportunity costs in England of producing a barrel of wine?Type your numeric answer and submit

Given: Using all its resources, England can produce either 200 thousand barrels of wine or 400…

Answered: Question 16 Homework • Unanswered…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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13. Assuming the PPF is shifting from PPFo to PPFn, which of the following explains the cause or causes of the economic growth depicted in this Figure? a) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of X. b) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of Y. c) This Figure represents growth due to an increase in resources and/or improvement in technology that are not specific to either product. d) This Figure represents growth due to an increase in specialization.
c. Suppose a small country produces only food and clothing. An earthquake destroys many of the clothing factories, but the ability to produce food is unaffected. Use the 3-point-curve drawing tool to draw a new production possibilities boundary on the graph on the right, labeled c, reflecting the change in the clothing factories. Properly label this line. Place end points one on horizontal and one on vertical axes. Carefully follow the instructions above, and only draw the required objects. Tonnes of Clothing Per Year PPBO Tonnes of Food Per Year
. Country A and Country B are two countries that each produce t-shirts (T) and sneakers (S). From its available resources and technology Country A can produce 100 t-shirts and 0 sneakers or 0 t- shirts and 200 sneakers or any combination of t-shirts and sneakers that sits on Country A's linear PPF. From its available resources and technology Country B can produce 50 t-shirts and 0 sneaker or 0 t-shirt and 50 sneakers or any combination of t-shirts and sneakers that sits on Country B's linear PPF. a. On two separate graphs draw the PPF for Country A and Country B. Measure t-shirts on the vertical axis and sneakers on the horizontal axis.
Draw a PPF graph for a farm producing two products (RICE & WHEAT) that illustrates increasing opportunity cost and show: a) Show how this PPF graph will change when a technological progress happens in the production of both products? b) Show how this graph will change when this PPF graph shift inwards? And what could be the reason for this PPF graph to shift inwards?
4. a. Suppose that you are on a deserted island and can produce either 32 tons of coconuts OR 16 tons of pineapples. Draw the PPF representing this situation. Assume that coconuts are on the x-axis. Also assume that the PPF is linear. Clearly label your graph. b. For each of the following combinations say whether they are attainable (feasible) or unattainable (infeasible), based on the above information. If they are feasible, say whether they are efficient or inefficient. Also, label the three points on the graph above. (i) 8 tons of coconuts and 12 tons of pineapples: (ii) 16 tons of coconuts and 3 tons of pineapples:
Can you help answer the two questions below from the attached image: The shape of Germany's production possibilities frontier (PPF) should reflect the fact that as Germany produces more tablets and fewer smartphones, the opportunity cost of producing each additional tablet decrease/increase/or remains constant . Based on the previous description, the trade-off Germany faces between producing tablets and smartphones is best represented by Graph 1 or Graph 2 .
Meanwhile, in the country of Portugal, wool and wine can also be produced according to a linear PPF. However, when all resources are devoted to production of wine, Portugal can produce 100 barrels, but when all resources are devoted to wool production, portugal can produce 50 bushels. What are the opportunity costs in Portugal of producing a barrel of wine?
Question 26 Please refer to Maxine's & Daisy's PPFs Which good should Daisy specialize in? Group of answer choices the good for which she has a higher opportunity cost the good she can produce the most of the good for which she has a lower opportunity cost the good for which she has an absolute advantage.
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Problem 2 Consider a simple exchange economy with two people: Bob and Jake. Bob and Jake both have ten hours of time available. The can use their time to do one of two things: make pancakes or make hamburgers. Bob can make two hamburgers in an hour or one pancake in an hour. Jake can make three pancakes in an hour or two hamburgers in an hour. Use this information to answer the following questions: a.) Draw Jake and Bob's PPFS, with hamburgers on the x-axis. b.) Give equations for Jake and Bob's PPFS in y = mx+b form, still treating hamburgers as the x variable. c.) Who has absolute advantage in the production of hamburgers? Who has absolute advantage in the production of pancakes? d.) Who has comparative advantage in the production of hamburgers? Who has comparative advantage in the production of pancakes? e.) Can Bob and Jake both benefit from trade if the terms of trade are one pancake per hambruger? Why or why not?
do explain shortly.
a) Why is the PPF curve bowed outward. Is it due to increasing opportunity cost or decreasing opportunity cost or constant opportunity cost Type and answer using only one of the underlined words above b) What happens to the PPF curve during a recession? Will it shift inward or outward or remains constant Type and answer using only one of the underlined words above c) Suppose a technology is banned due to its adverse environmental impacts. Would the production possibilty curve shift inward or outward or remain constant due to this Type and answer using only one of the underlined words above d) How will a policy encouraging more immigration would shift the production possibility forntier. It will shift inward or outward or remain constant Type and answer using only one of the underlined words above

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