The table shows Frigidia's production possibilities. Fish (pounds per month) 300 200 100 0 Draw the four points defined in the table. Use the four-point line tool to draw the PPF. Label it. and and and and Skis (pairs per month) 0 50 100 150 If Frigidia produces 200 pounds of fish per month, how many pairs of skis must it produce to achieve production efficiency? Frigidia must produce pairs of skis to achieve production efficiency. What is Frigidia's opportunity cost of producing 1 pound of fish and 1 pair of skis? The opportunity cost of 1 pound of fish is pairs of skis 300 250 Fish (pounds per month) 200- 150 100- 50- 0+ 25 50 75 100 125 Skis (pairs per month) 150 171

The table shows Frigidia's production possibilities. Fish (pounds per month) 300 200 100 0 Draw the four points defined in the table. Use the four-point line tool to draw the PPF. Label it. and and and and Skis (pairs per month) 0 50 100 150 If Frigidia produces 200 pounds of fish per month, how many pairs of skis must it produce to achieve production efficiency? Frigidia must produce pairs of skis to achieve production efficiency. What is Frigidia's opportunity cost of producing 1 pound of fish and 1 pair of skis? The opportunity cost of 1 pound of fish is pairs of skis 300 250 Fish (pounds per month) 200- 150 100- 50- 0+ 25 50 75 100 125 Skis (pairs per month) 150 171

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 that Canada produces only lumber and fish. It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish daily. What is the maximum amount of lumber Canada could produce daily? What is the maximum amount of fish Canada could produce daily? Draw Canada’s production possibilities frontier.
A production possibilities table for DVDS and computers is shown below. Production Alternatives Type of Production A B D E Computers 20 40 60 80 DVDS 80 70 55 35 a. Show these data graphically, and then identify a point that indicates an inefficient use of resources and a point that indicates an unattainable combination of goods. Instructions: Use the tool provided 'PPC' to draw a PPC curve (plot 5 points total). 100 Tools 80 PPC 60 40 20 20 40 60 80 100 Computers Point (Click to select) ♥ is an example of an inefficient point, while point (Click to select) ▼ is an example of an unattainable point. b. Does the economy above demonstrate the law of increasing opportunity cost? |(Click to select) ♥ DVDS
Please no written by hand and no image
Carmen and Dennis live on a desolate island. They spend their days fishing or climbing trees to collect coconuts. The following table shows how much of each activity Carmen and Dennis can produce for each hour of work. They each can work up to 12 hours a day. Fish per hour Coconuts per hour Carmen 40 8 Dennis 28 7 On a piece of paper, draw Carmen's PPF with fish on the horizontal (x) axis and coconuts on the vertical (y) axis. Carment's PPF extends from Question Blank 1 of 9 to Question Blank 2 of 9. (Hint: your answer should be in the form of a point (x,y).) Question Blank 3 of 9 has an absolute advantage in the production of fish, and Question Blank 4 of 9 has an absolute advantage in the production of coconuts. Carmen's opportunity cost of producing 1 coconut is Question Blank 5 of 9 fish, while Dennis' opportunity cost of producing 1 coconut is Question Blank 6 of 9 fish. Because Carmen has a Question Blank 7 of 9 opportunity cost of producing…
Figure 2-4 C. d. e. Wheat (bushels) P Figure 3-9 15 A to E C to D D to C 6 Apples (bushels) 1. In Figure 2-4, for which of the following would this statement be true: "To get more apples we have to give up wheat." A movement from a. b. D to E B to C Q S A Q Moonshine (1) E S D D с B 6 15 D D D Q Moonshine (2) XX Q Moonshine (3) 6 O Moonshine (4) 2. "Moonshine" is illegal home brew made by adding sugar to accelerate corn fermentation. Ten pounds of sugar are necessary to make a gallon of moonshine. In the mid-1970s, the price of sugar tripled and the price of moonshine skyrocketed from $6 to $15 a gallon. Which graph in Figure 3-9 best illustrates this? a. 1 b. 2 C. 3 d. 4
A) 1/2 hour (B) 6 hours 1/16 hour CASHEWS (Pounds) D) 2 hours 400 360 320 280 240 200 160 120 80 40 Brazil's PPF Refer to Figure 3B. If the production possibilities frontier shown is for 16 hours of production, then how long does it take this country to make one pound of peanuts? 1 2 3 4 5 6 7 PEANUTS (Pounds) 8 9 10
Figure 3-14 Arturo's Production Possibilities Frontier Dina's Production Possibilities Frontier 500 450 + 400 350 300 250 200 150 100+ 50 burritos 50 100 150 200 250 300 350 400 tacos 500 450 400 350 300 250 200 150 100 50 burritos 50 100 150 200 250 300 350 400 tacos Refer to Figure 3-14. Suppose Arturo is willing to trade 6 burritos to Dina for each 10 tacos that Dina produces and sends to Arturo. Which of the following combinations of tacos and burritos could Dina then consume, assuming Dina specializes in taco production and Arturo specializes in burrito production? a. 100 tacos and 200 burritos b. 300 tacos and 60 burritos c. 200 tacos and 130 burritos d. 340 tacos and 40 burritos ab ies hef ies
Asap Wichita — Farmers in Kansas, the biggest US producerof wheat, are abandoning their crops damaged by severedrought and cold.Some are spraying wheat fields with crop-killingchemicals and claiming insurance payouts in the beliefthat it is not worth harvesting the little grain that thereis, Reuters found on a three-day tour of the state. Othergrowers let cattle graze on the dismal-looking fields.Abandoning fields will reduce the crop of the world’sfifth-largest wheat exporter, with stocks expected to fallto a 16-year low. Large-scale abandonment deals aneconomic blow to farm towns and force wheat buyersto adjust procurement plans by buying the staple grainelsewhere.Nationally, winter-wheat farmers plan to abandon 33%of the acres they planted, the highest percentage sinceWorld War 1, the US department of agriculture said ina May 12 report.Kansas farmers are expected to abandon about 19% ofthe area planted last autumn, up from 10% in 2022 and4% in 2021, according to the report. But…
PPF 60 40 5, 10 20 D 20 60 80 100 CORN (Millions of bushels) Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, or unattainable. Check all that apply. Point Inefficient Efficient Unattainable A B C ロ|ロ|0|0|0|0 口|口|□|0|□ 口|ロ|□|0|□|□ CARS (Millions)
250 A 225 200 175 150 125 100 75 E 50 25 20 40 60 80 100 Oil Drills On the PPF shown in the figure above, which points represent inefficient production points? Select one: a. points C and E b. points D and A c. points B and D d. points A and E Solar Panels
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