The table below shows one of the most preferred trade exercises in your class, according toyour classmates' votes. Refer to it to answer the following question.Burrito40/hrBowlChipotleHot HeadBurritos44/hr36/hr42/hrIf graphing the production possibilities frontier for Hot Head Burritos, the intersection for the Bowl axis will be atnumber (type the number, no text)

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The table below shows one of the most preferred trade exercises in your class, according to your classmates' votes. Refer to it to answer the following question. Burrito 40/hr Вowl 44/hr Chipotle Hot Head Burritos 36/hr 42/hr If graphing the production possibilities frontier for Hot Head Burritos, the intersection for the Bowl axis will be at number (type the number, no text)

The table below shows one of the most preferred trade exercises in your class, according to your classmates' votes. Refer to it to answer the following question. Burrito 40/hr Вowl 44/hr Chipotle Hot Head Burritos 36/hr 42/hr If graphing the production possibilities frontier for Hot Head Burritos, the intersection for the Bowl axis will be at number (type the number, no text)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Both Geppetto and Lewis are toy store owners. They decide that they would like to trade puzzles and puppets in order to better stock their toy store shelves. The table below compares their production possibilities schedules. Production Possibilities Schedules Geppetto Lewis Puzzles Puppets Puzzles Puppets 90 75 10 8 60 15 12 16 45 20 8 24 30 25 32 40 030 Instructions: Enter your answers as a whole number. a. Geppetto and Lewis agree to trade at a rate of 3 puzzles for each puppet. With those terms of trade, who is most likely to be the supplier of puzzles? Who is most likely to be the supplier of puppets? Puzzles: (Click to select) Puppets: (Click to select) b. The two toy store owners agree to specialize and to trade 30 puzzles for 10 puppets. The terms of trade are still 3 puzzles for each puppet. How many puzzles and puppets will each one have after they complete their trade? Lewis: puzzles and puppets Geppetto: puzzles and puppets
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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?
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Economists use economic models to replicate real life situations for economic policy. Production possibilities frontier is one of the few economic models used to explain the behavior of economies. You are supposed to use a production possibilities frontier to show society’s trade-off between two “goods” – a clean environment and the quantity of industrial output. What factor do you think determines the slope of the frontier? Illustrate what happens to the frontier if engineers develop a new way of producing electricity that emit lesser pollutants.
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