Study the following diagram and answer the question that follows:SubmarinesCb0HospitalsWith reference to the above production possibilities frontier, we can say that...O A. the opportunity cost of producing one more hospital is higher at f than at g.O B. the opportunity cost of producing Oa hospitals is Ob submarines.O C. the opportunity cost of producing one more submarine is higher at g than at f.O D. the opportunity cost of producing Oa hospitals is cb submarines.

The slope of the PPF helps to determine the opportunity cost of producing one good compared to the…

Study the following diagram and answer the question that follows: Submarines С d Hospitals With reference to the above production possibilities frontier, we can say that... O A. the opportunity cost of producing one more hospital is higher at f than at g. B. the opportunity cost of producing Oa hospitals is Ob submarines. O C. the opportunity cost of producing one more submarine is higher at g than at f. O D. the opportunity cost of producing Oa hospitals is cb submarines.

Study the following diagram and answer the question that follows: Submarines С d Hospitals With reference to the above production possibilities frontier, we can say that... O A. the opportunity cost of producing one more hospital is higher at f than at g. B. the opportunity cost of producing Oa hospitals is Ob submarines. O C. the opportunity cost of producing one more submarine is higher at g than at f. O D. the opportunity cost of producing Oa hospitals is cb submarines.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Can you answer, please?
Explain the difference between a direct cost and an opportunity cost. Illustrate the difference of these costs by sharing one (1) out-of-pocket cost and one (1) opportunity cost for two decisions you made today. The decisions you choose to share can be anything, from your decision to drive to work versus riding a bike, or even the decision you made on where to have lunch.
Com 120.000 80.000 40.000 Robots 5.000 10.000 15.000 In the graph above, the opportunity cost of producing one more robot is A 1 corn. 8 corn. 5,000 corn. 15,000 corn.
Dina's Diner only produces sliders and hot wings. Can you explain the opportunity cost pattern as you move from point E to D to C in the table below? Production Possibility Table for Dina's Diner Choice A B C D E Quantity of Quantity of Sliders Hot Wings Produced Produced 80 F3 75 65 50 30 0 Q 10 F4 20 O the opportunity cost of producing hot wings remains the same from E to D to C. there is increasing marginal opportunity cost of sliders. no such restaurant would ever exist so there is no answer. there is decreasing marginal opportunity cost of sliders 30 40 오 F5 MacBook Air FO 8 F7 DII FB DD F9
Consider an economy with just one technique available for the production of each good. Good Labor per unit output Land per unit output Food 1 2 Cloth a. Suppose land is unlimited but labor equals 100. Write and sketch the production possibility frontier. b. Suppose labor is unlimited but land equals 150. Write and sketch the production possibility frontier. c. Suppose labor equals 100 and land equals 150. Write and sketch the production possibility frontier. Hint: What are the intercepts of the production possibility frontier? When is land fully employed? Labor? Both d. Explain why the production possibility frontier of part (c) is concave. e. Sketch the relative price of food as a function of its out put in part (c). f. If consumers insist on trading 4 units of food for 5 units of cloth, what is the relative price of food? Why? g. Explain why production is exactly the same at a price ratio of pr/pc = 1.1 as at pr/pc = 1.9. h. Suppose that capital is also required for producing food…
The table below represents the combinations of beef and corn produced on a tract of land of a given size and fertility Corn (bushels) Beef (kg) 10000 8000 900 6000 1200 4000 1400 2000 1475 1500 Which of the following events is likely to lead to an outward shift of the PPF? Select one; O a. Some of the land is lost due to a flood O b. None of the answers are correct O c. Corn prices fall relative to beef prices O d. Twenty of the existing acres are not used for either beef or corn production a reallocation of land use such that corn production increases from 6000 bushels to 8000 bushels while beef production decreases from 1200 kg to 900 kg O e.
Based on the production possibility curve represented below, calculate the opportunity cost of moving from combination A to B. Health Care 700 Production Possibility Frontier A 600 500 400 300 200 100 0 0 50 D B E C 100 150 200 250 300 Travel O A. 200 traveling services ○ B. 200 healthcare services O C. 175 traveling services O D. 75 healthcare services
Please choose the correct answer?
we assume any opportunity cost our professor doesnot give us more inforation... please do whatever you understand Q2: show a typical course of these costs in a diagram where you have produced quantity along the horizontal axis and kroner along the vertical. where do we find the intersection of these two curves
And since we're giving up some of one good, does that mean the opportunity cost is a negative number? Josie Well, we don't often say that "it cost us negative two dollars" or "we gave up negative two units of something," right? We just say "it cost two dollars" or "we gave up two units." Sabrina Yeah, the "we gave up" or "it cost us" part kind of implies the negative, doesn't it? Josie Exactly! So we put opportunity cost in terms of absolute value - we get rid of the negative sign. Continue Sabrina Okay, so what is the opportunity cost of one cake if we move from combination A to combination B? (If needed, round to two decimal places.) PPF PPF Point A B C D E Y2 Y1 O Number of Cookies 37 35 29 20 0 X1 X2 Number of Cakes 0 4 7 9 10 D X3 X4 E → Cakes
Refer to the information provided in Table 33.2 below to answer the question(s) that follow. Table 33.2 China Thail and Tractors Tractors Motorcycles Motorcycles 300 225 300 250 10 200 10 150 15 150 15 75 20 100 20 25 50 30 Refer to Table 33.2. In Thailand, the opportunity cost of Select one: O A. a motorcycle is 1/15 of a tractor. O B. a motorcycle is 15 tractors. O C. a tractor is 20 motorcycles. O D. a motorcycle is 1/30 of a tractor.
Refer to the production possibility frontiers for two friends Frodo and Sam who can both produce Ice creams and Jelly beans. Frodo's maximum production of Ice creams is 500 with no Jelly beans, or 2,000 Jelly beans with no Ice creams. Sam's maximum production of Ice creams is 600 with no Jelly beans, or 1,200 Jelly beans with no Ice creams. ICE CREAMS ICE CREAMS 600 500 1200 JELLY BEANS 2000 JELLY BEANS Frodo' PPF Sam's PPF Answer briefly these TWO questions in the box space provided below. Part A: Assuming efficient production without trade, derive the maximum amount of Jelly beans that can be produced by Sam along with 300 Ice creams. Describe your steps in detail. Part B: Assume that Frodo and Sam agree to specialize in production and trade between themselves. Frodo offers 1,000 Jelly beans to Sam in exchange for 300 lce creams. Would Sam agree to this trade?