i need the answer quickly The various combination of goods thatcan be produced in any economy whenit uses its available resources andtechnology efficiency are depicted byA. Demand curveB. Production curveC. Supply curveD.Production possibility curve

The various combination of the goods that can be produced in an economy certain when the available…

Answered: The various combination of goods that…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 12RQ: Why is a production possibilities frontier typically drawn as a curve, rather than a straight line?

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Homework 4 Compatibility Mode OSearch References Mailings Review View Help Text Box A A Aa A 三 T AaBbCcl AABBCI AaBbC AaB AaBbcc E xA .A- 出。 1 Normal 1 No Spac. Heading 1 Title Subtitle Styles Font Paragraph 6. Melinda buys an iPhone for $700 and gets a consumer surplus of $160. a. What is her willingness to pay? b. If she had bought the iPhone on sale for $500, what would her consumer surplus have been. c. If the price of an iPhone were $900, what would her consumer surplus have been? 7. The demand schedule for toasters, is given below. The price of toasters is $20. a. Graph the demand curve to scale and identify the area that represents the consumer surplus (S) (millions) 120 10 100 20 80 30 60 40 40 50 20 60 b. Calculate the consumer surplus for toasters. hp ho 144 %23 & 3 4. 5. 6. 7. 8. 6. CO LO
Quantity of Guns Consider the figures above. In Economy B, the opportunity cost of making O A. butter in terms of guns is increasing. OC. butter in terms of guns is higher than in Economy A. O E. guns in terms of butter is decreasing. Production Possibilities Boundary Economy A Quantity of Butter 3 G Quantity of Guns Production Possibilities Boundary Economy B फेकलल Quantity of Butter 7 8 €ƠN OB. butter in terms of guns is decreasing. OD. butter in terms of guns is lower than in EconomyA.
-n of ction Below is a production possibilities curve for a large tract of prairie farmland. What is the opportunity cost of 1 unit of rye? Quantity of rye 400 300 200 100 100 200 300 400 500 600 Select one: O a. 0.5 units of wheat O b. 2 units of wheat O c. 5 units of wheat Od. 600 units of wheat O e. none of the above Quantity of wheat
The table provides information about the production possibilities of a firm that produces bed linens. Quilts (per hour) Possibility A B C Pillows (per hour) 0 8 and and and 16 12 0 Draw points that show the three possibilities defined by the table. Label them A. B. and C. Draw the firm's PPF by connecting the points. Label it. Along this PPF, the quantities of A. all goods other than pillows and quilts are increasing OB. all goods other than pillows and quilts remain constant OC. pillows and quilts are either increasing or decreasing, so there is no scarcity OD. all goods other than pillows and quilts are decreasing
Figure 1 The production possibility frontier ABCDE is a production possibility frontier. It shows the different combinations of goods which can be produced if all resources are fully and efficiently utilised. The economy can produce at any point on the line. It cannot produce at G because the PPF shows the maximum that can be produced. It can produce within the PPF,05 such as at F, but less will be produced than the maximum possible. Non-manufactured goods 50 40 30 20 10 0 A 10 B Ti C 20 30 Manufactured goods G D E 40
Production possibility curve shows maximum efficiency means O a. Resources are wasted O b. None of the options O. Resources are not wasted O d. Resources are not completely used
Suppose there is an exogenous change to the market for apples that caused supply of apples to increase by 20,000 kgs at every price, which of the following would NOT explain this exogenous change? An increase in number of sellers. O Technological improvement. Reduction in cost of inputs. O Increase in population size. O Favourable environmental/climate conditions.
ple Choice ý the letter of the choice that best completes the statement or answers the question. 1. Which of the following is an example of lower production costs brought about by the use of technology? the delivery costs of gasoline to the consumer by diesel trucks the use of e-mail to replace slower surface mail а. b. the making of breads and pastries in local shops rather than large bakeries the importing of fresh vegetables from South America rather than using canned vegetables- с. d. 2. What is the effect of import restrictions on prices? They cause prices to drop. b. a. They cause prices to rise. They often cause prices to rise steeply and then drop. d. They usually do not have any lasting effect on price. с. 3. What do sellers do if they expect the price of goods they have for sale to increase dramatically in the future? sell the goods now and try to invest the money instead of resupplying sell the goods now but try to get the higher price for them store the goods until the…
The graph shows the market for paper. The government passes a new law that limits the quantity of paper that producers sell to 40 tons of paper a day. C because This market for paper is O A. efficient; production is greater than zero O B. inefficient; the marginal cost of the 40th ton of paper is greater than the marginal benefit from the 40th ton of paper inefficient; more paper could be produced O C. O D. inefficient; the marginal benefit from the 40th ton of paper is greater than the marginal cost of the 40th ton of paper O E. efficient; the marginal cost of the 40th ton of paper equals the marginal benefit from the 40th ton of paper Draw the deadweight loss when production is 40 tons of paper a day. Label it. 20.00 18.00- 16.00- 14.00- 12.00- 10.00- 8.00- 6.00+ 4.00- 2.00- Price (dollars per ton) 6.00 0.00+ 0 S ID 40 60 80 100 120 Quantity (tons per day) >>> Draw only the objects specified in the question. 20 OU 140
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 farmers,…
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 farmers,…
Select the number of the question and the letter to indicate the answer you consider correctfor each question. 1. The Law of demanda. applies to final consumer goods but not to the productive resources purchased bybusiness firms.b. tells us how much of a good people want, but not necessarily how much of that good theyare willing to pay for.c. tells us that when the price of a good falls, quantity demanded will increase.d. applies only to goods that are not absolute necessities. 2. The law of supply states that all other things remaining the same:a. as the price of a good increases, supply of the good will increase.b. as the price of a good increases, the quantity of the good supplied willincrease.c. as the price of a good increases, demand for the good will increase.d. as the price of a good increases, the quantity of the good demanded willdecrease. 3. Which of the following most appropriately illustrates the law demand?a. Sellers increase the amount they sell because the price of the…

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The various combination of goods that can be produced in any economy when it uses its available resources and technology efficiency are depicted by A. Demand curve B. Production curve C. Supply curve D. Production possibility curve