Refer to Daisy's PPF. Assume Daisy got a pie making machine that allowed her to make 21 pies per week with the same 5 lbs of flour. Describe her new PPF curve. Would Daisy's PPF shift (move on both axes) or pivot (move on only one axis)? (Write "shift" or "pivot") Her new PPF would cross the tarts axis at tarts. Her new PPF would cross the pies axis at pies.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

Q19 solutio n neded 

 

Question 19
Refer to Daisy's PPF.
Assume Daisy got a pie making machine that allowed her to make 21 pies per week
with the same 5 lbs of flour. Describe her new PPF curve.
Would Daisy's PPF shift (move on both axes) or pivot (move on only one axis)? (Write
"shift" or "pivot")|
Her new PPF would cross the tarts axis at
tarts.
Her new PPF would cross the pies axis at
pies.
Transcribed Image Text:Question 19 Refer to Daisy's PPF. Assume Daisy got a pie making machine that allowed her to make 21 pies per week with the same 5 lbs of flour. Describe her new PPF curve. Would Daisy's PPF shift (move on both axes) or pivot (move on only one axis)? (Write "shift" or "pivot")| Her new PPF would cross the tarts axis at tarts. Her new PPF would cross the pies axis at pies.
Daisy has the following Production Possibilities Frontier per week. Her resource is :
Ibs of flour.
Note: You will use this PPF to answer the next several questions.
tarts
20
18
16 +
14
12-
10
3
12 15 18 21 24 27 30
pies
Transcribed Image Text:Daisy has the following Production Possibilities Frontier per week. Her resource is : Ibs of flour. Note: You will use this PPF to answer the next several questions. tarts 20 18 16 + 14 12- 10 3 12 15 18 21 24 27 30 pies
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Bayesian Nash Equilibrium
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education