The table shows Yucatan's production possibities,Food (pounds per month)Food(pounds per month)200Sunscreen(gallons per month)and200100and40050and600and800150-Draw the four points defined in the table.Use the four-point line tool to draw the PPF. Label it.100100IH Yucatan produces 100 pounds of food per month, itmust produce 400 galions of sunscreen to achieveproduction efficiency50The opportunity cost of 1 pound of food isegallons ofle00400Sunscreen (galons per month)le00sunscreen2001000The opportunity cost of 1 gallon of sunscroen isOpounds of food.> Answer to 2 decmal places.» Draw only the objects specified in the question

Microeconomics is a branch of economics that deals with the behaviour, consumption and allocation…

Answered: The table shows Yucatan's production…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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
Tony and Patty produce skis and snowboards. The tables show their production possibilities. Each week, Tony produces 4 snowboards and 8 skis and Patty produces 2 snowboards and 4 skis. Tony's Production Possibilities Snowboards (per week) Skis (per week) 20 and 16 and 12 and 8 and 4 and 0 and 10 024689 Tony's opportunity cost of producing a snowboard is skis. Patty's opportunity cost of producing a snowboard is skis. Tony has a comparative advantage in producing snowboards if A. Tony uses fewer resources than Patty to produce a snowboard OB. Tony produces snowboards at a lower opportunity cost than Patty OC. Tony produces snowboards at a higher opportunity cost than Patty OD. when all of Tony's resources are used to produce snowboards, Tony produces more snowboards than Patty Patty's Production Possibilities Snowboards (per week) Skis (per week) and 0 and 4 and 8 420
250 A 225 D 200 В 175 150 125 100 75 E 50 25 20 40 60 80 100 Oil Drills On the PPF shown in the figure above, which point represents an efficient production possibility? Select one: а. point E b. point B c. point D d. point C Solar Panels
Possibility Wheat (Million Ton) Milk (Million Ton) Opportunity Cost A 16 1 15 C 13 3 10 E 4 6. F * The table Lists Production Possibilities for wheat and milk in an Economic Society Required: 1- Calculate the Opportunity Cost for that Society 2- If the society produce at point (2 Million ton of wheat and 15 Million ton of milk) what Does it mean? 3- If the society produce at point (3 Million ton of wheat and 6 Million ton of milk) what Does it mean? 4- What does production mean at the numbers mentioned in the table?
Use the PPF to answer the following questions: D. Hard drives A 525 E. 450 400 350 300 250 200 150 100 50 5 10 15 20 25 30 35 40 45 50 Sweaters (thousands)
Draw a production possibilities frontier diagram for a farm able to produce corn or soybeans. What does a production possibilities frontier illustrate?
3. Country A and Country B are two countries that each produce t-shirts (T) and sneakers (S). From its available resources and technology Country A can produce 100 t-shirts and 0 sneakers or 0 tshirts and 200 sneakers or any combination of t-shirts and sneakers that sits on Country A’s linear PPF. From its available resources and technology Country B can produce 50 t-shirts and 0 sneaker or 0 t-shirt and 50 sneakers or any combination of t-shirts and sneakers that sits on Country B’s linear PPF. a. On two separate graphs draw the PPF for Country A and Country B. Measure t-shirts on the vertical axis and sneakers on the horizontal axis. b. Write an equation in slope-intercept form for the PPF for Country A. c. Write an equation in slope-intercept form for the PPF for Country B
1. PPF and CPF Josel's PPF is defined by Qosel F Josel and Kayla can produce food and luxury goods. Kayla 12-3Qosel and Kayla's PPF is defined by Qa 12 - 3Q Kayla Suppose that Josel and Kayla trade with each other (i.e., no outside merchants). Kayla and Josel agree to trade under the following conditions: 1) the terms of trade are 1 unit of food in exchange for 1 unit of luxury goods; 2) each specializes according to his/her comparative advantage; and 3) Kayla consumes 3 units of the good she produces. (a) = Sketch on two different graphs (one for Josel and one for Kayla) the individual PPFs, the individual CPFs, and indicate the individual points of pro- duction and the individual points of consumption. Clearly label your graphs (i.e., indicate values for slopes, intercepts, points of production, and points of consump- tion).
Ice cream (millions of gallons per year) 5 A 4 В 3 2 3 4 Milk (millions of gallons per year) The figure above shows the production possibilities frontier for a country. The opportunity cost of a gallon of milk between combination point A and Bis A) 4 gallons of ice cream for a gallon of milk. B) 3 gallons of ice cream for a gallon of milk. C) 1 gallon of ice cream for a gallon of milk. D) 1/3 of a gallon of ice cream for a gallon of milk. E) zero because at point A, zero milk is being produced.
1. Problems and Applications Q1 Yvette can read 40 pages of economics in an hour. She can also read 30 pages of sociology in an hour. She spends 4 hours per day studying. Use the blue line (circle symbol) to draw Yvette's production possibilities frontier (PPF) for reading economics and sociology. (?) 200 180 160 140 Economics Pages F 120 100 80 80 40 20 0 0 20 40 60 80 100 120 Sociology Pages 140 180 180 200 Yvette's opportunity cost of reading 90 pages of sociology is PPF pages of economics.
Given the following diagram of a production possibilities frontier for a country. Assume that this country produces only two types of goods, capital goods (K) and consumer goods (C). (Graph is not drawn to scale.) CAPITAL GOODS(K) LACO,250) B(109 200) C C200, ISo) D(300, l00) E(GO0,0) CONSUMER 6000S (C) a. What is the opportunity cost of producing 25 more units of capital goods if this economy is currently producing at point B?

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