Use the figure below to answer the following questions. Good Y 80 80 60 00 40- 20 20 A B C 02 4 6 8 10 Good X At point B, the opportunity cost of increasing production of Y to 70 units is units of X.
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- Which graph depicts a technological breakthrough in the production of Y only?This diagram represents the production possibility frontier of a Country. Point A has coordinates (0 S; 1.000 T) Point B has coordinates (2.000 S;OT) Point C has coordinates (1,200 5; 600 T) You are told that P(S)/P(T) is 0.5. What is the production point that is most likely to be chosen in equilibrium between A, B and C? GO 8 B SWhat is sweetens opportunity cost of manufacturing 1 million cars per year?
- 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?Using your own words, describe the law of increasing opportunity costs. Be sure to explain why this phenomenon occurs and how it helps to contribute to the shape of the production possibilities frontier.Graphically show the production possibilities frontier for the nation of Stromboli, using the data given in the following table. Does the principle of increasing cost hold in Stromboli? Stromboli’s 2019 Production Possibilities Pizzas per Year Pizza Ovens per Year 75,000,000 0 60,000,000 6,000 45,000,000 11,000 30,000,000 15,000 15,000,000 18,000 0 20,000
- 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) d. What is the opportunity cost of producing 1 more unit of consumer goods if the economy is currently producing at point D?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(409200) c C200, ISo) D (300, l00) E(GO0,0) CONSUMER 600as (C) e. Suppose that there is a technological improvement in producing consumer goods that results in twice as many units of consumer goods being produced from the available resources in this economy. Draw the new production possibility frontier for this economy given this change. Assume that there are no changes in technology with regard to capital good production.No written by hand solution
- Hello, I keep getting this question wrong on my practice HW but im not sure what im doing wrong.Sketch a plausible production possibility frontier that shows in general various combinations of wheat and potatoes a farmer can produce with the fixed amount of resources available to him? Label your diagram well for example your axesbut you dont have to use any specifc numberUse the information in the table below to determine the opportunity cost of increasing output of bats from 450 to 630. Number of Workers 0 10 20 30 40 50 Paragraph > B Daily Production of Bats 0 240 450 630 780 900 |||| > Number of Workers 0 10 20 30 40 50 +v Daily Production of Hammers 0 360 660 900 1,080 1,200 *** 1.
