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 to construct a PPF that displays the maximum efficient production.| | Basketballs Per Hour | Apple Pies Per Hour ||----------------|----------------------|---------------------|| LeBron | 5 | 1 || Anthony | 6 | 4 || Rajon | 2 | 4 || Alex | 3 | 3 |**X-axis - pies****Y-axis - basketballs**Which of the following coordinates represents the point at which all the economic actors above specialize in the production of the good in which they are most efficient, except Alex who focuses on basketball production?- (a) (90, 140)- (b) (110, 70)- (c) (140, 70)- (d) (100, 100)The correct answer is marked as option (b) (110, 70).

Production possibility frontier (PPF) curve shows the different possible combination of two goods…

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 1 Anthony 6. Rajon Alex X-axis- ples Y-axis - basketballs Which of the following coordinates represents the point at which all the economic actors above specialize on the production of the good which they are most efficient, except Alex who focuses on basketball production? a (90, 140) O b (110, 70) O c (140, 70) O d (100, 100)

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 1 Anthony 6. Rajon Alex X-axis- ples Y-axis - basketballs Which of the following coordinates represents the point at which all the economic actors above specialize on the production of the good which they are most efficient, except Alex who focuses on basketball production? a (90, 140) O b (110, 70) O c (140, 70) O d (100, 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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