Step 4: Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was a wave of immigration to the economy in which the workers were equally capable of working in battery production or blueberry production. (Hint: Both intercepts will change.) Clearly labeled the new PPF.

Step 4: Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was a wave of immigration to the economy in which the workers were equally capable of working in battery production or blueberry production. (Hint: Both intercepts will change.) Clearly labeled the new PPF.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter2: Production Possibilities Frontier Framework

Section: Chapter Questions

Problem 3WNG

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Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.

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Step 4: Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was
a wave of immigration to the economy in which the workers were equally capable of working in battery production or blueberry production. (Hint: Both
intercepts will change.) Clearly labeled the new PPF.

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Step 3. Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was a drought that destroyed some of the blueberry harvest. (Hint: The intercept for batteries will not change.) Clearly label the new PPF.
b. How would the immigration of 10 munchkins, i.e., 10 units of labor, affect the PPF equation? Show graphically on the same diagram and explain. c. What is the marginal cost of x when x = 20? What is the marginal cost of y when x = 20?
Describe and indicate how each of the following would affect the U.S production possibilities frontier, for example, will the change shift the PPF outward, inward, not shift the PPF, or lead to movement along the PPF toward the X axis or toward the Y axis . a). An increase in the number of illegal immigrants entering the country. b).An increase in the population. c). A war. d) the discovery of a new oil field. e) A decrease in unemployment rate. f) A law that requires individual to enter lines of work for which they are not suited. g) Technology change that favors the production of the goods and services on the X-axis of your graph. h) Technology change that favors the production of the goods and services on the Y-axis of your graph. i) depletion of our natural non renewable resources. j) general improvements in technology.
Step 2. Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was a technological change that increased the production of batteries only. (Hint: The intercept for blueberries will not change.) Clearly label the new PPF.
microeconomics help.
4. a. Suppose that you are on a deserted island and can produce either 32 tons of coconuts OR 16 tons of pineapples. Draw the PPF representing this situation. Assume that coconuts are on the x-axis. Also assume that the PPF is linear. Clearly label your graph. b. For each of the following combinations say whether they are attainable (feasible) or unattainable (infeasible), based on the above information. If they are feasible, say whether they are efficient or inefficient. Also, label the three points on the graph above. (i) 8 tons of coconuts and 12 tons of pineapples: (ii) 16 tons of coconuts and 3 tons of pineapples:
Between a straight line PPF and a concave PPF, which one is more realistic? Why?Defend your answer.
The typical Canadian worker is able to produce 100 board feet (a unit of measure) of lumber or 1000 light bulbs per year. The world price of a board foot of lumber is $20 and that of a light bulb is $1. Draw the production possibilities frontier for the average Canadian worker by manipulating the line segment labeled PPF.
Q1. What is the difference between Straight line PPF and bowed outward PPF?
Between a straight line PPF and concave PPF, which one is more realistic? Why? Explain with example and graph.
Two countries, Lambdastan and Kappastan, have identical PPFs. Their production possibilities frontiers are illustrated below. Kappastan produces at point K on its frontier, and Lambdastan produces at point L on its frontier. Which country will grow faster in the future? Explain verbally. Draw Kappastan's new PPF and Lambdastan's new PPF. Capital goods (millions per year) Consumption goods (millions per year)
Suppose a new hormone is discovered that increases the productivity of the workers in producing beef, but does not affect the production of cabbage.How will that development change the production possibility frontier? Select one: • a. A bulge outwards of the middle while the axis interceptions remain the same. • b. No effect on the PPF. • c. A pivot outwards along the cabbage axis. • d. An even shift outwards from the origin. • e. A pivot outwards along the beef axis.