The four people listed below are the only workers in an economy that works 10 hours per day and only produces two products. Use the table below and the questions below to construct a PPF that displays the maximum efficlent production. Basketballs Per Hour Apple Pies Per Hour LeBron Anthony 4 Rajon Alex X-axis - pies Y-axis - basketballs Point (110, 70) lies on the PPF. Use it along with the intercepts and the answer the Question 4 to plot the PPF curve. Then, locate the polnt (90, 100). What is true about that point's location, relative to the PPF? O a It lies to the left of the PPF, which means that the economy is operating at less than peak efficiency. It also lies on the PPF, which means that this is a possible combination of basketballs and apple pies that can be achieved with this current configuration of the economy. It lies to the right of the PPF, which means that the economy needs to grow in order to produce this combination of basketballs and apple pies. O b O c

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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The four people listed below are the only workers in an economy that works 10 hours per day and only produces two products.
Use the table below and the questlons below to construct a PPF that displays the maximum efficlent production.
Basketballs Per Hour Apple Pies Per Hour
LeBron
1
Anthony
Rajon
Alex
3
X-axis - ples
Y-axis - basketballs
Point (110, 70) lies on the PPF. Use it along with the intercepts and the answer the Question 4 to plot the PPF curve.
Then, locate the polnt (90, 100). What is true about that point's location, relative to the PPF?
It lies to the left of the PPF, which means that the economy is operating at less than peak efficiency.
It also lies on the PPF, which means that this is a possible combination of basketballs and apple pies that can be achieved with this
current configuration of the economy.
It lies to the right of the PPF, which means that the economy needs to grow in order to produce this combination of basketballs
and apple pies.
O b
4 4
623
Transcribed Image Text:The four people listed below are the only workers in an economy that works 10 hours per day and only produces two products. Use the table below and the questlons below to construct a PPF that displays the maximum efficlent production. Basketballs Per Hour Apple Pies Per Hour LeBron 1 Anthony Rajon Alex 3 X-axis - ples Y-axis - basketballs Point (110, 70) lies on the PPF. Use it along with the intercepts and the answer the Question 4 to plot the PPF curve. Then, locate the polnt (90, 100). What is true about that point's location, relative to the PPF? It lies to the left of the PPF, which means that the economy is operating at less than peak efficiency. It also lies on the PPF, which means that this is a possible combination of basketballs and apple pies that can be achieved with this current configuration of the economy. It lies to the right of the PPF, which means that the economy needs to grow in order to produce this combination of basketballs and apple pies. O b 4 4 623
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Production possibility frontier shows various combinations of amounts of two goods that the country is able to produce given its current state of technology and available resources.

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