### Production Options Table| Option | Output of Trucks per Day | Output of Tanks per Day ||---------|--------------------------|-------------------------|| A | 5 | 0 || B | 4 | 2.0 || C | 3 | 3.0 || D | 2 | 3.8 || E | 1 | 4.5 || F | 0 | 5.0 |### Production Possibilities CurveThe graph depicts a concave curve labeled the Production Possibilities Curve (PPC). The x-axis represents the "Output of Tanks (per day)" and the y-axis represents the "Output of Trucks (per day)."- **Point A**: At 5 trucks and 0 tanks.- **Point B**: At 4 trucks and 2 tanks.- **Point C**: At 3 trucks and 3 tanks.- **Point D**: At 2 trucks and 3.8 tanks.- **Point E**: At 1 truck and 4.5 tanks.- **Point F**: At 0 trucks and 5 tanks.### QuestionWhat is the opportunity cost of the second truck produced?**Instructions**: Round your response to one decimal place.[ ] tank(s)

Opportunity Cost: It refers to the foregone revenue on the next best alternative if we pick a…

Refer to the table and figure below: Option A Option B Option C Option D Option E Option F Output of Trucks (per day) 5 A 2 Production Options Output of Trucks Output of Tanks per Day per Day 5 0 2.0 3.0 3.8 4.5 5.0 A 4 tank(s) 3 2 1 0 Production Possibilities Curve B C 1 2 3 4 E F 5 6 Output of Tanks (per day) What is the opportunity cost of the second truck produced? Instructions: Round your response to one decimal place.

Refer to the table and figure below: Option A Option B Option C Option D Option E Option F Output of Trucks (per day) 5 A 2 Production Options Output of Trucks Output of Tanks per Day per Day 5 0 2.0 3.0 3.8 4.5 5.0 A 4 tank(s) 3 2 1 0 Production Possibilities Curve B C 1 2 3 4 E F 5 6 Output of Tanks (per day) What is the opportunity cost of the second truck produced? Instructions: Round your response to one decimal place.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In using tanks and trucks in a production possibilities curve with increasing opportunity ot producing more and more tanks.. a) lowers the cost of each individual tank. b) can be done at constant opportunity cost. c) requires giving up larger and larger quantities of trucks pertank produced d) is not possible due to scarcity In Figure 1.1, which of the following points would the opportunity cost of producing one more St hp to search
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