Suppose South Africa produces only trucks and camcorders. The resources that are used in the production of these two goods are specialized-that is, some inputs are more suitable for producing trucks than for producing camcorders, whereas others are more suitable for producing camcorders than trucks. The shape of South Africa's production possibilities frontier (PPF) should reflect the fact that as South Africa produces more camcorders and fewer trucks, the opportunity cost of producing each additional camcorder [Select ] The following graphs show two possible PPFs for South Africa's economy: a straight-line PPF (Graph 1) and a bowed-out PPF (Graph 2). TRUCKS PPF 1 Graph 1 CAMCORDERS ×4 TRUCKS PPF 2 Graph 2 CAMCORDERS 8 Based on the previous description, the tradeoff South Africa faces between producing camcorders and trucks is best represented by [Select] On graphs 1 and 2, point A depicts a combination of trucks and camcorders that lies in the [Select] region, and point B depicts a combination of trucks and

Suppose South Africa produces only trucks and camcorders. The resources that are used in the production of these two goods are specialized-that is, some inputs are more suitable for producing trucks than for producing camcorders, whereas others are more suitable for producing camcorders than trucks. The shape of South Africa's production possibilities frontier (PPF) should reflect the fact that as South Africa produces more camcorders and fewer trucks, the opportunity cost of producing each additional camcorder [Select ] The following graphs show two possible PPFs for South Africa's economy: a straight-line PPF (Graph 1) and a bowed-out PPF (Graph 2). TRUCKS PPF 1 Graph 1 CAMCORDERS ×4 TRUCKS PPF 2 Graph 2 CAMCORDERS 8 Based on the previous description, the tradeoff South Africa faces between producing camcorders and trucks is best represented by [Select] On graphs 1 and 2, point A depicts a combination of trucks and camcorders that lies in the [Select] region, and point B depicts a combination of trucks and

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Complete the following table to reveal the changes in production if country X stops producing alphas while country Y shifts resources out of its beta industry to concentrate on alphas. screenshot attached thanks
What is the opportunity cost of obtaining more of one good, as it relates to the production possibilities frontier? the amount of the other good that must be given up the market price of the additional amount produced the amount of resources that must be devoted to its production the number of dollars that must be spent to produce it
Suppose the Netherlands produces only bikes and scooters. The resources that are used in the production of these two goods are not specialized-that is, the same set of resources is equally effective at producing both scooters and bikes. The shape of the Netherlands's production possibilities frontier (PPF) should reflect the fact that as the Netherlands produces more scooters and fewer bikes, the opportunity cost of producing each additional scooter The following graphs show two possible PPFS for the Netherlands's economy: a straight-line PPF (PPF₁) and a bowed-out PPF (PPF₂). BIKES PPF Graph 1 SCOOTERS (?) BIKES PPF₂ Graph 2 SCOOTERS (?) Based on the previous description, the trade-off the Netherlands faces between producing scooters and bikes is best represented by
Which of the following is true based on the graph below? * Refer to the graph below to answer questions 1-6 below. Quantity of wheat (bushels) 200 Country A's PPC 100 Country B's PPC 100 150 Quantity of textiles (units) Country A has a constant opportunity cost of making textiles Country B has an increasing opportunity cost of making bushel. Country B has absolute advantage in wheat; Country A has absolute advantage in textiles. Country B has absolute advantage in both wheat and textiles. Country A has absolute advantage in wheat; neither country has absolute advantage in textiles.
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.
Suppose the fictional country of Everglades produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for millet, an agricultural good, and electric scooters, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a breakout of avian flu that sickens millions of workers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. PPF0701402102803504201801501209060300ELECTRIC SCOOTERS (Thousands)MILLET (Millions of bushels) PPF
Suppose a country is currently producing at a point on its production possibility frontier, and undertakes no trade with other countries. Then trade is opened up. Which of the following would not occur as a direct result?a) Its production possibility frontier would shift.b) Its production would shift to another point on its production possibility frontier.c) The pattern of products that the country produced would differ from the pattern that its consumers consumed.d) Consumers would be able to consume at a point outside the production possibility frontier. Please dont use any ai tool.
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The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the PPF in the graph. Point A on the PPF represents the combination of the two goods Rubberland currently produces. When a new method of rubber processing is discovered, the productivity of all Rubberland's inputs increases. Please shift the PPF to show this change. Assume that Rubberland does not make more rubber band balls than they originally made at point A but still maximize their productive capabilities. Move point A to their new production point. How many more rubber hoses do they now produce per day than before?
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Using a production possibilities frontier (PPF) diagram, determine how does the PPF change in response to the events describe below. a) A relaxation of policies allowing more foreign direct investment into the country. b) Increasing the minimum wage level. c) A decrease in expenditure on research and development. d) An increase in the retirement age. e) Government policies supporting the provision of services, without affecting manufacturing.