The above table shows production combinations on a country's production possibilities frontier. Which of the following is an example of a production point that is inefficient? OA. 10 units of good X and 16 units of good Y OB. 3 units of good X and 35 units of good Y OC. 0 units of good X and 40 units of good Y OD. 6 units of good X and 28 units of good Y

The above table shows production combinations on a country's production possibilities frontier. Which of the following is an example of a production point that is inefficient? OA. 10 units of good X and 16 units of good Y OB. 3 units of good X and 35 units of good Y OC. 0 units of good X and 40 units of good Y OD. 6 units of good X and 28 units of good Y

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Identify the point or points for which the following is true: To produce more of beer, some of pizza…

A: Answer: Introduction: Production possibility frontier: it refers to the curve that shows the…

Q: The money price of a pack of granola bars is $1.40, and the relative price of a pack of granola Bas…

A: The market price of a pack of granola bars is $1.40.The relative price of a pack of granola bars in…

Q: Consider the following production possibilities table that shows different combinations of two goods…

Q: Use the scenario to answer the following questions Natasha can produce either 5,000 pounds of cheese…

A: Answer: e (500) Explanation: Opportunity cost is the number of units of a good sacrificed to produce…

Q: To determine how much of a good to produce to achieve allocative efficiency, we O A. construct a…

A: The production possibility frontier shows all the maximum combinations of the two goods that can be…

Q: Consider a production possibilities curve. The origin and two points A and B may be connected by one…

A: Scarcity is an economic concept that relates to the reality that there is a finite number of human…

Q: Consider two neighboring island countries called Contente and Euphoria. They each have 4 million…

A: We are going to use Opportunity cost and Comparative advantage concept to answer this question.

Q: Questivire On the PPF below, point D is most likely: Production Possibilities Frontier (PPF)…

A: A production possibility frontier (PPF) shows the maximum possible output combinations of two goods…

Q: 5. Efficiency in the production possibilities model Suppose France produces only two goods: wheat…

A: The maximum pair of items that may be produced with a particular mix of resources and technology is…

Q: Calculate the following marginal opportunity costs using the graph showing hand soap and Tide pods:…

A: A production possibility frontier illustrates the various combinations of two goods that can be…

Q: For the question below use the following figures which illustrate the production possibilities…

A: Opportunity Cost is the cost in terms of the goods which we have to forego because resources are…

Q: Which of the following is a TRUE statement? Explain why. 1. If for a PPF, there is allocative…

A: PPF is Production Possibility Frontier shows the possible combination of two commodities that can be…

Q: Macmillan Learning Below is a PPF for tangerines and bananas. Which point(s) show the inefficient…

A: The Production Possibility Frontier, or PPF, is a curve that shows different ways that two goods or…

Q: Use the graph to answer the following question. Computers 99 65 Textbooks What is the opportunity…

A: From the given production possibility frontier graph At point A: 39 textbook and 7 computers are…

Q: A point inside a production possibilities frontier OA. is unattainable. OB. indicates that some…

A: Understanding the position of a point inside a production possibilities frontier (PPF) is crucial…

Q: Problem 1. Suppose the economy consists of three individuals, Brian, Dave, and Reynold who can only…

A: Opportunity cost is defined as the cost of next best alternative foregone .

Q: Which of these scenarios is inefficient and why?

A: In scenarios 1 and 2,either no lawn is mowed or no car is washed. Therefore in these 2…

Q: 400 500 Wonderland produces and consumes two goods, pumpkins and sweet potatoes, by using two…

A: A production possibilities frontier (PPF) is a graphical depiction of all the possible combinations…

Q: Product Production A 20 80 70

A: a. The PPC(‘production possibilities curve’) is referred to a graphical model which represents…

Q: The table below contains 5 points on an economist's production possibilities frontier. What is the…

A: Opportunity cost refers to the next best aternative forgone.

Q: “Market forces should be allowed to allocate resources”. Is this a positive or normative statement?

A: When talking about economic statements, it can be said that these statements are classified as…

Concept explainers

Opportunity Cost Analysis

Opportunity cost refers to the loss of potential benefits when choosing one alternative over another. It is the tradeoff a person makes, or the potential gains they miss out on, because of their choice. To analyze opportunity cost, we must consider the benefits and tradeoffs of each available option.

Question

Point
A
B
C
D
E
Production of X Production of Y
0
40
3
36
6
28
9
16
12
0
The above table shows production combinations on a country's production possibilities frontier. Which of the following is an example of a production point that is inefficient?
OA. 10 units of good X and 16 units of good Y
OB. 3 units of good X and 35 units of good Y
OC. 0 units of good X and 40 units of good Y
O D. 6 units of good X and 28 units of good Y

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Define PPF

VIEW

Step 2: Determine the inefficient points

VIEW

Step 3: Explain the incorrect options

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Hutch Technology makes computer monitors, which sell for $100 each. What is the opportunity cost of 10 monitors?$1,000The other goods that could be produced with the resources that produce the 10 monitorsThe profits that Hutch earns when 10 monitors are soldThe lost profits that Hutch if the monitors are not producedAll of the responses are correct.
The budget constraint model and the production possibilities frontier (PPF) model both illustrate (select ALL that apply): O allocative efficiency O productive effieciency O a curved line to represent both the budget constraint and the PPF the tradeoffs in choosing more of one good at the cost of less of the other O comparative advantage O constraints on what we can have due to scarce resources
Point A B C D E Production chocolate bars 0 10 20 30 40 Production cans of cola 100 90 70 40 0 The above table shows production points on Sweet - Tooth Land's production possibilities frontier. Which of the following is an example of a point that is inefficient? A. 0 chocolate bars and 100 cans of cola OB. 38 chocolate bars and 0 cans of cola OC. 32 chocolate bars and 40 cans of cola OD. 20 chocolate bars and 80 cans of cola MEEDI
Q.3. Figure below shows the production possibilities frontier for a music processing plant that can produce both compact disks and cassettes. What is the opportunity cost of moving from point B to C? Compact Disks (CDs) per Hour 180 120 60 T I 50 B 80 100 Cassettes per Hour
The production possibilities frontier curve illustrates that a. an economy's capacity to produce is unrelated to its population. b. if all the resources of an economy are being used efficiently, more of one good can be produced only if more of another good is produced. c. an economy will automatically move toward a point at which all of its resources are being used inefficiently. d. if all the resources of an economy are being used efficiently, more of one good can be produced only if less of another good is produced.
Which concept is NOT illustrated by the production possibilities frontier? A. tradeoffs B. efficiency C. opportunity cost D. equity
Identify the point or points for which the following is true: Production of pizza can be increased without sacrificing beer.
Can I have help finding the solution?
An economy will be operating on a point inside of its production possibilities frontier if there is inefficiency in resource allocations.what is meant by inefficiency ?you may find it helpful to use an example in your answer.
If the price of chili increases, there will be of chili cheese fries. an increase in the quantity supplied a decrease in the quantity supplied a decrease in the supply an increase in the supply
PLEASE SHOW ME HOW TO DO THE RIGHT CALCULATIONS.
The marginal benefit of an additional beach towel is $8. The marginal cost of producing an additional beach towel is $12. If producers are not minimizing the average costs of production, then we can conclude beach towel production is neither allocatively nor productively efficient. beach towel production is allocatively efficient but not productively efficient O beach towel production is both allocatively and productively efficient. O beach towel production is not allocatively efficient but is productively efficient.