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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Suppose Amber and Jade can spend their days making croissants or writing poems. Their output per hour at each activity is the following: Amber Jade Croissants 40 30 In this situation, can mutually beneficial trade occur? Select one: OA. Yes, if Amber specializes in writing poems and trades them to Jade for her croissants. OB. No, because Amber more productive than Jade at both activities. OC. Yes, if Amber specializes in making croissants and trades them to Jade for her poems. OD. No, because Jade is more productive than Amber at both activities. Poems 5 3
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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 2. Alex 3. 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? O a (90, 140) O b (110, 70) (140, 70) O d (100, 100) 44m
5. Opportunity cost and production possibilities Van is a skilled toy maker who is able to produce both trucks and balls. 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 (Trucks) (Balls) (Trucks) (Balls) A 8 4 B 6 2 3 8 4 4 2 13 D 2 6 1 15 E 8 16 On the following graph, use the blue points (circle symbol) to plot Van's initial production possibilities frontier (PPF).
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?
Beth can read 30 pages of astronomy in an hour. She can also read 20 pages of sociology in an hour. She spends 6 hours per day studying. **Use the blue line (circle symbol) to draw Beth's production possibilities frontier (PPF) for reading astronomy and sociology. Diagram has Astronomy Pages on the left from 0-200 in increments of 20's On the bottom of the Diagram it lists Sociology Pages numbered the same fom 0-200 in increments of 20. Beth's opportunity cost of reading 60 pages of sociology is ___________ pages of astronomy.
Assume you are pursuing a bachelor’s degree and you have 40 hours to divide between work and school in a week. You choose the amount of time you spend on each based on the classes you take and the hours you request at work. The degree will take you 3 years to complete if you dedicate 40 hours a week and do not take summers off. Obviously, if you devote no time to school, you never get your degree. Use the chart below to draw the Production Possibilities Frontier with work time on the Y axis and school time on the X axis. Time spent working Time spent on school Years needed to get a bachelor's degree A 0 40 3 B 10 30 4.5 C 20 20 6 D 30 10 8 E 40 0 Never Complete
Jake and Latasha are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of barley and alfalfa each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing barley or alfalfa or to produce barley on some of the land and alfalfa on the rest. On the following graph, use the blue line (circle symbol) to plot Jake's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Latasha's PPF. Jake's opportunity cost of producing 1 bushel of alfalfa is ? bushels of barley, whereas Latasha's opportunity cost of producing 1 bushel of alfalfa is ? bushels of barley. Because Jake has a (higher, lower) opportunity cost of producing alfafa than Latasha, (Jake, Latasha) has a comparative advantage in the production of alfafa, and (Latasha, Jake) has acomparactive advantage in the production of barley.
Question 2 (1 polnt) 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 Ples Per Hour LeBron Anthony Rajon 3 Alex If the x-axis Is ples, and the y-axis is basketballs, then what is the Intercept of the PPF curve on the apple ples axis? O a (16, 0) O b (120, 0) (0, 120) (0, 12) 144 m 4239
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)
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.