Suppose South Africa produces only two goods: barley and laptops. The following graph shows South Africa's current production possibilities frontier(also known as the production possibilities curve), along with six output combinations represented by black points (cross symbols) labeled A to F.LAPTOPS (Millions)100806040200PPF+ >20++♡BF+40ҳсxoE60BARLEY (Millions of bushels)801100(?) Complete the following table by indicating whether each point represents output combinations that are productive inefficient, productive efficient,attainable, or unattainable. Check all that apply.Point Productive Inefficient Productive Efficient Attainable UnattainableABCDEF00000000000000000

Production Possibility Frontier:-The graph can be explained as the Production Possibilities Frontier…

Suppose South Africa produces only two goods: barley and laptops. The following graph shows South Africa's current production possibilities frontier (also known as the production possibilities curve), along with six output combinations represented by black points (cross symbols) labeled A to F. LAPTOPS (Millions) 100 8 80 60 20 0 0 PPF <+ 20 + B F xc 40 xo E + 60 BARLEY (Millions of bushels) 80 100 (?

Suppose South Africa produces only two goods: barley and laptops. The following graph shows South Africa's current production possibilities frontier (also known as the production possibilities curve), along with six output combinations represented by black points (cross symbols) labeled A to F. LAPTOPS (Millions) 100 8 80 60 20 0 0 PPF <+ 20 + B F xc 40 xo E + 60 BARLEY (Millions of bushels) 80 100 (?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The table below shows the production possibilities for Canada and Japan. Suppose that, prior to specialization and trade, both Canada and Japan are producing combination C. Product DVD players Bushels of wheat Product DVD players Bushels of wheat DVD players 100 80 60 40 20 0 20 A Canada 40 60 A 20 0 A 40 0 Quantity of wheat per period 80 B 15 20 a) Draw the production possibilities curve for Canada in the graph A, and indicate its present output position. Draw the production possibilities curve for Japan in graph B, and indicate its present output position. Plot only the endpoints of each curve in the graphing areas using the appropriate tool. Plot the output combination in each graph using the Point tool. 100 B 30 7.5 CANADA'S PRODUCTION POSSIBILITIES C 10 40 JAPAN'S PRODUCTION POSSIBILITIES с 20 15 Tools PP Curve combination D 5 Trading Possi New combina 60 D 10 22.5 E 0 80 E 0 30
Suppose that a nation currently is producing combination F in the table below and on the graph of the production possibilities curve to the right. What is the opportunity cost of producing 10.5 million more smartphones and moving to production combination E? Combination A B с D E F G Smartphones (millions per year) 50.0 48.0 45.0 40.0 33.0 22.5 0.0 Tablets (millions per year) 0 10 20 30 40 50 60 The opportunity cost of producing 10.5 million more smartphones and moving from production combination F to production combination E is million tablet devices per year. (Enter your response as a whole number.) (...) Smartphones (millions per year) 50€ 40- 30- 20- 10- 0 A B 10 C D E F G 20 30 40 50 60 Tablet Devices (millions per year) Q
The table below shows the productivity level of each country for different goods in terms of how much output can be produced with an hour of labor. In the rightmost column, we have the total labor hours available in each country. Please answer the questions using the data provided in the table. labor (hours) 70 20 U.S. Mexico cotton/hr 70 40 shirt/hr 50 30 a) Describe the comparative advantage of each country. b) c) Plot the production possibilities curve for each country, under autarky. Describe the price range (cotton per shirt) that is acceptable for both countries to trade with each other.
Homework (Ch 02) Gilberto is a skilled toy maker who is able to produce both trains and drums. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Hours Producing Produced Choice (Trains) (Drums) (Trains) (Drums) 13 D 15 E 16 On the following graph, use the blue points (circle symbol) to plot Gilberto's initial production possibilities frontier (PPF). 30 25 Initial PPF 20 New PPF 15 10 TRAINS Suppose Gilberto is currently using combination D, producing one train per day. His opportunity cost ofproducing a second train per day is SNRUG
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Q. 1
The graph to the right depicts an economy, Home, that produces both flowers and soybeans. Flowers are the labor intensive good and soybeans are the land intensive good. Home presently exports flowers. The graph also indicates Home's optimal point of production, X. Suppose that Home has acquired more land in which it can now produce 12 units of soybeans if all land were devoted toward its production. Using the three-point curved line drawing tool, draw the new production possibilities frontier that indicates this biased growth of land in Home. Properly label this curve. Carefully follow the instructions above and only draw the required object. The growth biased toward land causes OA. export-biased growth. O B. a decrease in the relative price of flowers. OC. a rightward shift of the relative supply curve. O D. import-biased growth. 16- 15- 14- 13- 12- 11- 10- 9- 7- 6- 5- Growth of a Factor Soybean output VV TT 7 8 9 10 11 12 13 14 15 16 Flower output €
Use the PPF to answer the following questions: (a) At point F, how many sweaters are being produced? How many hard drives? (b) Label points A-H as either efficient, inefficient, or unattainable. (c) Can we determine if point F is productively efficient? If so, is it productively efficient? (d) Can we determine if point F is allocatively efficient? If so, is it allocatively efficient?
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?
Suppose the United States produces only two goods: alfalfa and computers. The following graph shows the United States’s current production possibilities frontier, along with six output combinations represented by black points (plus symbols) labeled A to F. Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, attainable, or unattainable. Check all that apply. (refer to screenshot for table and graph)
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This question is a file-upload question. Work your answer in a piece of paper, take a picture with your phone and upload the file. Using the table below answer the following: Points Soda Pizza A 10 В 1 6 3 a) Draw a PPF map (put soda in the vertical axis and pizza in the horizontal axis), showing all the points on the PPF. b) What is the opportunity cost of an extra pizza when you are on segment AB? What about when you are at segment CD? (i.e., how many sodas you have to give up in order to get an extra pizza? SHOW YOUR WORK!) c) What is your PPF's shape? Is it a straight line or does it have a bowed outward shape? Justify! d) Suppose that there is a new technology that affects ONLY the production of soda. Illustrate this effect on your PPF map.