Principles of Microeconomics (Second Edition)
2nd Edition
ISBN: 9780393623840
Author: Lee Coppock, Dirk Mateer
Publisher: W. W. Norton & Company
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Chapter 2, Problem 7SP
To determine
The PPF (
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Suppose the fictional country of Everglades produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for millet, an agricultural good, and electric scooters, a capital good.
Drag the production possibilities frontier (PPF) on the graph to show the effects of a breakout of avian flu that sickens millions of workers.
Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.
PPF0701402102803504201801501209060300ELECTRIC SCOOTERS (Thousands)MILLET (Millions of bushels) PPF
Suppose the United Kingdom produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities
frontier for corn, an agricultural good, and airplanes, a capital good.
Drag the production possibilities frontier (PPF) on the graph to show the effects of a technological advance in medicine that allows workers to live
longer and have extended careers.
Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will
snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.
360
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PPF
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PLANES (Thousands)
C
Suppose the fictional country of Katmai produces two types of goods: agricultural and capital. The following diagram shows its current production
possibilities frontier for millet, an agricultural good, and microprocessors, a capital good.
Drag the production possibilities frontier (PPF) on the graph to show the effects of a breakout of avian flu that sickens millions of workers.
Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will
snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.
MICROPROCESSORS (Thousands)
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PPF
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MILLET (Millions of bushels)
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Chapter 2 Solutions
Principles of Microeconomics (Second Edition)
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Similar questions
- Suppose the fictional country of Everglades produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for millet, an agricultural good, and telephoto lenses, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a long drought that reduces the amount of water available for farmers to use for irrigation. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. TELEPHOTO LENSES (Thousands) 360 300 240 100 120 60 . 10 PPF 20 30 40 MILLET (Millions of bushels) 50 60 PPFarrow_forwardOne of the proposals that arose in a previous year's federal budget plan was to reduce the amount of money that people could set aside in their tax-extempt 401k savings plans.How would this proposal affect the economy's production possibilities frontier?use a graph to illustrate your answer.arrow_forwardShifts in production possibilities Suppose South Africa produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for barley, an agricultural good, and locomotives, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a breakout of avian flu that sickens millions of workers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.arrow_forward
- Solve it on paper!arrow_forwardIf an unattainable point outside a production possibilities curve can become an attainable and even an efficient point, can an inefficient point become an efficient point in the production possibilities curve model? Explain with a graph.arrow_forwardElijah and Aneesha are farmers. Each one owns an 18-acre plot of land. The following table shows the amount of maize and squash each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing maize or squash or to produce maize on some of the land and squash on the rest. SQUASH (Pounds) On the following graph, use the blue line (circle symbol) to plot Elijah's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Aneesha's PPF. SQUASH (Pounds) Elijah Aneesha 180 162 144 126 108 Show Transcribed Text 90 180 36 72 162 54 18 On the following graph, use the blue line (circle symbol) to plot Elijah's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Aneesha's PPF. 144 0 126 108 90 72 Maize Squash (Pounds per acre) (Pounds per acre) 12 3 18 6 0 90 180 270 300 450 540 630 720 810 900 MAIZE (Pounds) Elijah's PPF Aneesha's PPF Elijah's opportunity cost of producing 1 pound…arrow_forward
- Suppose Canada produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities curve (PPC) for wheat, an agricultural good, and industrial robots, a capital good. Drag the production possibilities curve (PPC) on the graph to show the effects of a breakout of a pandemic that sickens millions of workers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. (?) INDUSTRIAL ROBOTS (Thousands) 420 350 280 210 140 70 0 40 PPC 80 120 160 WHEAT (Millions of bushels) 200 240 68 PPCarrow_forwardSuppose Ireland produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for corn, an agricultural good, and industrial robots, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a long drought that reduces the amount of water available for farmers to use for irrigation. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. 120 100 PPF 80 20 PPE 60 120 180 240 300 360 CORN (Millions of bushels) INDUSTRIAL ROBOTS (Thousands)arrow_forwardQ. 1arrow_forward
- Suppose the fictional country of Biscayne produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for sorghum, an agricultural good, and electric scooters, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of electric scooters. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. ELECTRIC SCOOTERS (Thousands) 180 150 120 90 30 0 30 60 90 PPF 120 SORGHUM (Millions of bushels) 150 180 бо PPF ?arrow_forwardIntroduction to the Production Possibilities Curve (PPC) As you know, the basic economic problem is scarcity. Since we do not have enough scarce resources to satisfy everyone's needs and wants, we all have to make choices. We must choose how to spend our time, our energy, our money, and our material possessions, and for every choice that is made, a cost is suffered. The relationship between choice and cost can be shown in a graph called a production possibilities curve, or PPC. For example, consider a student who has 4 hours of free time in the evening. He or she can choose to spend some, all, or none of those 4 hours studying for a test the following day. He or she could also use the time to catch up on sleep. These choices can be graphed: Choice A - spend all 4 hours studying Choice B- spend 2 hours studying, and 2 hours getting extra sleep Choice C- spend all 4 hours sleeping Of course, other combinations of the 4 hours exist. The student could study for 3.5 hours, and get an extra…arrow_forwardAb 34 Economicsarrow_forward
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