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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.

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