Types of A B C D E Production Cereal 0 250 450 650 850 Bread 130 117 109 89 0 a. Using the table above draw a production possibility curve for cereal and bread using the data above. b. Label the points where the economy would be efficient (A), underutilized (B) and unattainable (C) I C. What is the opportunity cost of moving from A to B? d. What is the opportunity cost of moving from point B to point C? e. What is the opportunity cost of moving from point D to point E? f. "In what way does an understanding of the shift of the PPC help businesses/countries make production decisions? |

Types of A B C D E Production Cereal 0 250 450 650 850 Bread 130 117 109 89 0 a. Using the table above draw a production possibility curve for cereal and bread using the data above. b. Label the points where the economy would be efficient (A), underutilized (B) and unattainable (C) I C. What is the opportunity cost of moving from A to B? d. What is the opportunity cost of moving from point B to point C? e. What is the opportunity cost of moving from point D to point E? f. "In what way does an understanding of the shift of the PPC help businesses/countries make production decisions? |

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 6P

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PPC Practice Activity D O Format Tools Add-ons Help Last edit was 10 hours ago Normal text BIUA E E E E Times New. - 11 a. Draw a production possibilities curve for butter and guns using the data above. b. Label the points where the economy would be efficient (A), underutilized (B) and unattainable (C). c. What is the opportunity cost of moving from point A to point B? d. What is the opportunity cost of moving from point B to point C? e. What is the opportunity cost of moving from point D to point E? Here is the production possibilities table for war goods and civilian goods: Production Alternative B Types of Production Robots 250 450 650 850 Wheat 130 117 109 89 Draw a production possibilities curve for robots and wheat using the data above. b. Label the points where the economy would be efficient (A), underutilized (B) and unattainable (C). c. What is the opportunity cost of moving from point A to point B? d. What is the opportunity cost of moving from point B to point C? e. What is…
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.
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Draw and explain a productino possibilities frontier for an economy that produces milk and cookies. What happens to this frontier if disease kills half of the economy's cows?