**Question 49****Figure 3-6:**- **Maxine’s Production Possibilities Frontier** A graph shows the number of tarts (y-axis, 0 to 20) versus pies (x-axis, 0 to 30). The production possibilities frontier is a downward-sloping line indicating the trade-off between producing tarts and pies.- **Daisy’s Production Possibilities Frontier** Another graph similar to Maxine’s, showing the number of tarts (y-axis, 0 to 20) versus pies (x-axis, 0 to 30). Daisy's production possibilities frontier is also a downward-sloping line representing the trade-off between producing tarts and pies.**Refer to Figure 3-6. If Daisy must work 2.5 hours to make each pie, then her production possibilities frontier is based on how many hours of work?**- a. 37.5 hours- b. 50 hours- c. 6 hours- d. 7.5 hours

Production possibilities frontier shows the combinations of goods which can be produced with given…

QUESTION 49 Figure 3-6 Maxine's Production Possibilities Frontier 20 18- 16 14 12 10 ↑ 8 6. 369 12 15 18 21 24 27 30 pies b. 50 hours c. 6 hours d. 7.5 hours 20 4 10 16 24 12 10 8 Daisy's Production Possibilities Frontier MES Refer to Figure 3-6. If Daisy must work 2.5 hours to make each pie, then her production possibilities frontier is based on how many hours of work? Ⓒa. 37.5 hours - 369 12 15 18 21 24 27 30 pies

QUESTION 49 Figure 3-6 Maxine's Production Possibilities Frontier 20 18- 16 14 12 10 ↑ 8 6. 369 12 15 18 21 24 27 30 pies b. 50 hours c. 6 hours d. 7.5 hours 20 4 10 16 24 12 10 8 Daisy's Production Possibilities Frontier MES Refer to Figure 3-6. If Daisy must work 2.5 hours to make each pie, then her production possibilities frontier is based on how many hours of work? Ⓒa. 37.5 hours - 369 12 15 18 21 24 27 30 pies

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 3-7Assume that the farmer and the rancher can switch between producing meat and producing potatoes at a constant rate. Labor Hours Needed to Make 1 Pound of Pounds Produced in 24 Hours Meat Potatoes Meat Potatoes Farmer 6 4 4 6 Rancher 3 8 8 3 Refer to Table 3-7. Assume that the farmer and the rancher each has 24 labor hours available. If each person divides his time equally between the production of meat and potatoes, then total production is Group of answer choices 6 pounds of meat and 4.5 pounds of potatoes. 5.5 pounds of meat and 8 pounds of potatoes. 12 pounds of meat and 9 pounds of potatoes. 5 pounds of meat and 5.5 pounds of potatoes.
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Timmy and Tommy both work at Nook's Cranny, a general store, where they spend all of their time doing one of two tasks: developing crafting projects and placing orders. The graph below shows their production possibilities frontiers for a day of work. Assume they operate efficiently all the time. Use this information for the following 2 problems. Coding Pr IN M 35 HP 13 42 11 30 9 2 T S 012345 1. (General Ideas) Their boss, Mr. Nook, has asked them to create exactly 9 Crafting Projects. Assuming Timmy and Tommy work together, how many Order Placements will get done? a. 11 b. 14 c. 17 d. 20 78 9 10 11 12 13 14 15 16 17 18 19 21 Onder Placement 2. (General Ideas) Tommy learned a new computer operating system, and can now do more Order Placements than he could before. Everything else stays the same. What is the minimum number of achievable Order Placements that would cause a change in Tommy's comparative advantage? a. 12 b. 14 c. 16 d. 18