Use the following production possibilities frontier for a country to answer the following questions.Which point(s) are unattainable? Briefly explain why.Point A because it is inside the production possibilities frontier.Point E because it is outside the production possibilities frontier.EAll the points because the production of each has an opportunity cost.CNone of the points because they all are feasible.Points B, C, and D because they are on the production possibilities frontier.ADPPEConsumption goods-...Capital goods

Production means goods are produced in such a manner that cost is minimized and production is…

Answered: Use the following 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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Country Jeans Corn Felicidad 8 32 Bellissima 12 24 Felicidad's opportunity cost of producing 1 pair of jeans is (1/2 , 1/4, 2, 4) of corn, and Bellissima's opportunity cost of producing 1 pair of jeans is ( 1/2 , 1/4, 2, 4) of corn. Therefore, (FELICIDADS, BELLISSIMA) has a comparative advantage in the production of jeans, (FELICIDADS, BELLISSIMA) and has a comparative advantage in the production of corn. Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. In this case, the country that produces jeans will produce_______________million pairs per week, and the country that produces corn will produce____________million bushels per week.
Consider the PPF diagram drawn below, for two countries that are free to trade with one another. A B PPF₂ PPF₁ Select one: D a. I only. b. I and II only. c. Il only. d. I, II and III. C E Which of the following production combinations is/are INEFFICIENT? I. Country 1 produces at point C and country 2 produces at point D. II. Country 1 produces at point E and country 2 produces point at B. III. Country 1 produces at point E and country 2 produces at point A X
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Need help with this Comparing your answers in the previous questions suggests that the opportunity cost of producing 10 million additional gallons of drinking water at point B is ________(choose between these: less than, greater than or equal to) . and the opportunity cost of producing 10 million additional gallons of drinking water at point A. This reflects the (choose between: notion that countries can gain from trade, fact that resources are scarce or law of increasing opportunity costs) .
The graph shows the Production Possibility Frontiers of Writ (orange, dotted line) and Greg (green, solid line) when they gather pumpkins or branches individually. Drag and drop the points A, B and C to form the Production Possibility Frontier when Wirt and Greg specialize and exchange the production of branches and pumpkins. Note: Use the circle in the top, left corner of the textbox as the point. Drab Point A as the top left point. Drag Point B to the point at which the joint PPF changes slope. Drag Point C to the bottom right point. Total Branches 6 5 4 3 2 1 O 0 1 2 3 4 5 6 Point A Point B Point C Greg's PPF Wirt's PPF Total Pumpkins
Suppose in one hour, 10 kilograms of rice or 5 meters of cloth is produced in India; while 5 kilograms of rice or 2 meters of cloth is produced in Thailand. What is the opportunity cost of cloth in Thailand?
Draw two Linear Production Possibilities Curves for two countries: Portugal and England and two products :Wine (kegs) and Cloth (Sheets). On Portugal's graph show the maximum production per worker of cloth sheets of 100 units on the Y axis. On the X axis show the maximum production of Wine at 150 kegs. For England's graph show the outputs at 90 cloth sheets on the Y axis and 60 Wine kegs on the X axis
Question 3 Person A and Person B produces purses and wallets. The production possibilities frontier below shows each persons production of wallets and purses based in an 8-hour day. 10 9 8 7 6 5 4 3 2 Person A wallets + 1 2 3 4 + + + + + 5 6 7 8 Who has the absolute advantage in purses? 9 10 purses Who has the absolute advantage in wallets? Who has a comparative advantage in purses? Who has a comparative advantage in wallets? What is the opportunity cost for purses? Person B 10 9 8 7 6 5 4 3 2 1 Choose... Choose... Choose... Choose... Choose... wallets + 1 2 3 4 5 6 + 7 + 8 9 10 purses ¶ (▶► <▶
Please as soon as possible.thank you
Below table shows the production possibilities for the country of Emilon: Rice Beef A 60 B 70 54 C 126 42 D 168 24 E 196 0 Complete the following (approximate) possibilities for Emilon. a. Emilon can produce 182 rice and beef. b. Emilon can produce rice and 48 beef. Which of the following product combinations is Emilon capable of producing? Can Emilon produce 140 rice and 48 beef? No, it cannot be produced. d. Can Emilon produce 98 rice and 42 beef? Yes, it can be produced. ✔ 4x0
I'm confused on how to calculate the gains from trade. I don't know what to do.
Use the following production possibilities tables to answer the next question. Possibilities C 8 24 A Autos (millions) 0 Chemicals (millions) 40 Germany's Production B 4 32 United States' Production B 3 48 A Autos (millions) 0 Chemicals (millions) 60 Multiple Choice O O 8 million units of autos. D 12 16 Possibilities D 9 24 6 million units of autos. C 6 36 Assume that prior to specialization and trade Germany and the United States both produced combination C. Now if each nation specializes according to its comparative advantage, the resulting gains from specialization and trade will be 6 million units of autos and 8 million units of chemicals. E 16 8 8 million units of autos and 6 million units of chemicals. E 12 12 F 20 20 F 15 0

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