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Shangri-La produces only two goods: bats and balls. Each worker comes with a fixed quantity of material and capital, and the economy's labour force is fixed at 100 workers. The following table indicates the amounts of bats and balls that can be produced daily with various quantities of labour. Number of Daily Production of Workers 0 Number of Daily Production of Balls Workers Bats 0 0 0 20 70 20 17 40 117-> 40 30 60 152° 60 38 80 175 80 43 100 187 100 45 a. Complete the production possibilities in the table below. Balls Bats B 0 E Bats 2 b. The opportunity cost of increasing the output of bats from 38 to 43 units per day is 0 0 (Click to select) c. Suppose that the planning office dictates an output of 117 balls and 68 bats per day. This output combination (Click to select) possible. d. Now, assume that new technology is introduced in the production of bats so that each worker can produce half a bat more per day. Complete the row Bats 2, in the table in part (a) above, given this technological change. e. The planning office's goal of 117 balls and 68 bats (Click to select) be met.

Shangri-La produces only two goods: bats and balls. Each worker comes with a fixed quantity of material and capital, and the economy's labour force is fixed at 100 workers. The following table indicates the amounts of bats and balls that can be produced daily with various quantities of labour. Number of Daily Production of Workers 0 Number of Daily Production of Balls Workers Bats 0 0 0 20 70 20 17 40 117-> 40 30 60 152° 60 38 80 175 80 43 100 187 100 45 a. Complete the production possibilities in the table below. Balls Bats B 0 E Bats 2 b. The opportunity cost of increasing the output of bats from 38 to 43 units per day is 0 0 (Click to select) c. Suppose that the planning office dictates an output of 117 balls and 68 bats per day. This output combination (Click to select) possible. d. Now, assume that new technology is introduced in the production of bats so that each worker can produce half a bat more per day. Complete the row Bats 2, in the table in part (a) above, given this technological change. e. The planning office's goal of 117 balls and 68 bats (Click to select) be met.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter1: Welcome To Economics!
Section: Chapter Questions
Problem 10RQ: Give the three reasons that explain why the division of labor increases an economys level of...
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Shangri-La produces only two goods: bats and balls. Each worker comes with a fixed quantity of material and capital, and the economy's labour force is fixed at 100 workers. The following table indicates the amounts of bats and balls that can be produced daily with various quantities of labour. Number of Daily Production of Workers 0 Number of Daily Production of Balls Workers Bats 0 0 0 20 70 20 17 40 117-> 40 30 60 152° 60 38 80 175 80 43 100 187 100 45 a. Complete the production possibilities in the table below. Balls Bats B 0 E Bats 2 b. The opportunity cost of increasing the output of bats from 38 to 43 units per day is 0 0 (Click to select) c. Suppose that the planning office dictates an output of 117 balls and 68 bats per day. This output combination (Click to select) possible. d. Now, assume that new technology is introduced in the production of bats so that each worker can produce half a bat more per day. Complete the row Bats 2, in the table in part (a) above, given this technological change. e. The planning office's goal of 117 balls and 68 bats (Click to select) be met.
Transcribed Image Text:Shangri-La produces only two goods: bats and balls. Each worker comes with a fixed quantity of material and capital, and the economy's labour force is fixed at 100 workers. The following table indicates the amounts of bats and balls that can be produced daily with various quantities of labour. Number of Daily Production of Workers 0 Number of Daily Production of Balls Workers Bats 0 0 0 20 70 20 17 40 117-> 40 30 60 152° 60 38 80 175 80 43 100 187 100 45 a. Complete the production possibilities in the table below. Balls Bats B 0 E Bats 2 b. The opportunity cost of increasing the output of bats from 38 to 43 units per day is 0 0 (Click to select) c. Suppose that the planning office dictates an output of 117 balls and 68 bats per day. This output combination (Click to select) possible. d. Now, assume that new technology is introduced in the production of bats so that each worker can produce half a bat more per day. Complete the row Bats 2, in the table in part (a) above, given this technological change. e. The planning office's goal of 117 balls and 68 bats (Click to select) be met.
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