Refer to the following production possibilities table for consumer goods (automobiles) and capital goods (forklifts): Production Alternatives Type of Production A B D E Automobiles 2 4 6 8 Forklifts 30 27 21 12 a. Show these data graphically. Instructions: Use the tool provided 'PPC' to draw a PPC curve (plot 5 points total). 10 Tools PPC 4 10 20 30 40 50 Forklifts Upon what specific assumptions is this production possibilities curve based? (Click to select) b. If the economy is at point C, what is the (opportunity) cost of 2 more automobiles? What is the (opportunity) cost of 6 more forklifts? Which characteristic of the production possibilities curve reflects the law of increasing opportunity costs: its shape or its length? (Click to select) V Automobiles

Refer to the following production possibilities table for consumer goods (automobiles) and capital goods (forklifts): Production Alternatives Type of Production A B D E Automobiles 2 4 6 8 Forklifts 30 27 21 12 a. Show these data graphically. Instructions: Use the tool provided 'PPC' to draw a PPC curve (plot 5 points total). 10 Tools PPC 4 10 20 30 40 50 Forklifts Upon what specific assumptions is this production possibilities curve based? (Click to select) b. If the economy is at point C, what is the (opportunity) cost of 2 more automobiles? What is the (opportunity) cost of 6 more forklifts? Which characteristic of the production possibilities curve reflects the law of increasing opportunity costs: its shape or its length? (Click to select) V Automobiles

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter2: Economic Tools And Economic Systems

Section: Chapter Questions

Problem 3.5P

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Hello, Can you help me answering question #6 in the image?
Refer to the following production possibilities table for consumer goods (automobiles) and capital goods (forklifts): Production Alternatives Type of Production A B D E Automobiles 4 8 Forklifts 30 27 21 12 a. Show these data graphically. Instructions: Use the tool provided 'PPC' to draw a PPC curve (plot 5 points total). 10 Tools 8 PPC 4 2 10 20 30 40 50 Forklifts Upon what specific assumptions is this production possibilities curve based? (Click to select) Automobiles
An economy produces two goods ,X and Y .lt uses two means of production, labour and capital. A unit of labour can produce either 1unit of X or 4units of Y (or linear combination of the two).A unit of capital can produce either 4units of X or 1unit of Y (or linear combination of the two)there are 100units of each means of production. (i) Draw the production possibility frontier of the economy when the two goods can only be produced by a mixture of both factors. (ii)What will be the opportunity cost of X if the economy produces 50units of X ? (iii) Given that the production technology is linear ,will the opportunity cost of X remain unchanged when we produce 90units of X ? (iv)Briefly explain the difference between the PPC with a constant opportunity cost and the PPC with an increasing opportunity cost as more output of one good is produced. Use a well labeled diagram to explain your answer?
The table shows the output of bikes and skateboards for Luke and Han (the end points of their respective PPCs). They can produce either or some linear combination of both Bikes (B) and Skateboards (S). With this information, select the choice that is a true statement. a b Question 9 C Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. d 1/11 answered ii Luke has the comparative advantage in producing Bikes and Skateboards. Han has the comparative advantage in producing Bikes and Skateboards. Luke Han Question 10 Answers ar Bikes 50 40 Skateboard Luke has the comparative advantage in Bikes and Han has the comparative advantage in producing Skateboards. Luke has the comparative advantage in Skateboards and Han has the comparative advantage in producing Bikes. 70 64
Check my Below is a production possibilities table for consumer goods (automobiles) and capital goods (forkifts) Production Alternatives Type of production Automobiles Forklifts 20 27 21 12 a. Show these data graphically Instructions: 1. Use the drawing tool (PPC, plot 5 points totel) to draw e PPC curve. 2. Once all points have been plotted, click on the line (not individual points) end a tool icon will pop up. You can use this to enter exact co-ordinates for your points es needed.
Suppose earlier they used to decide half of their in producing Apple pies and remaining half in producing Cupcakes. Now they have decided to "specialize" in accordance to their comparative advantages. Then in a work week that consists of 5 work days, the output of Apple pies and cupcakes will increase by the amount of b C Quantity of Apple Pies d 100 40 PPFDavid Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. 30 Apple pies and 100 Cupcakes respectively 200 Quantity of Cupcakes 200 Apple pies and 350 Cupcakes respectively PPFAlexis 150 Apple ples and 500 Cupcakes respectively 400 250 Apple pies and 100 Cupcakes respectively
Question 17 Refer to Daisy's PPF Given Daisy's PPF, the following production combo, 6 pies and 10 tarts is Group of answer choices an efficient use of resources. an inefficient use of resources. not possible with the given resources.
Q20 solution needed
The graph below is Mendork's production possibility curve for the only two goods that it produces-quirks and quarks. Quantity of Quarks 800 700 600 500 400 300 200 100 A 2 4 6 8 10 12 14 16 18 20 Quantity of Quirks Select one: Refer to the graph above to answer this question. If new technology increased the output of quirks by 50%, how many quirks could be produced if 700 quarks were produced? B A. 9 quirks. B. 18 quirks. C. 10 quirks. D. 20 quirks. E. No quirks.
A production possibilities table for DVDS and computers is shown below. Production Alternatives Type of Production A B D E Computers 20 40 60 80 DVDS 80 70 55 35 a. Show these data graphically, and then identify a point that indicates an inefficient use of resources and a point that indicates an unattainable combination of goods. Instructions: Use the tool provided 'PPC' to draw a PPC curve (plot 5 points total). 100 Tools 80 PPC 60 40 20 20 40 60 80 100 Computers Point (Click to select) ♥ is an example of an inefficient point, while point (Click to select) ▼ is an example of an unattainable point. b. Does the economy above demonstrate the law of increasing opportunity cost? |(Click to select) ♥ DVDS
A production possibilities table for DVDS and computers is shown below. Production Alternatives Type of Production A B D E Computers 20 40 60 80 DVDS 80 70 55 35 a. Show these data graphically, and then identify a point that indicates an inefficient use of resources and a point that indicates an unattainable combination of goods. Instructions: Use the tool provided 'PPC' to draw a PPC curve (plot 5 points total). 100 Tools 80 PPC 60 40 G 20 20 40 60 80 100 Computers Point (Click to select) ]is an example of an inefficient point, while point (Click to select) |is an example of an unattainable point. b. Does the economy above demonstrate the law of increasing opportunity cost? (Click to select) DVDS
C and D