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- Could a nation be producing in a way that is allocatively efficient, but productively inefficient?5 2. The following shows different technologies for producing 100 metres of cloth. Technology Number of workers Coal required (tonnes) A 4 2 B 1 6 C 3 7 D 5 5 a) Which technologies would not be chosen by firms? Explain. b) Of the remaining technologies, what determines the technology a firm would choose?Question. Using the table below, answer the questions that follow it. A B C D EPizza 0 1 2 3 4Robot 20 18 14 8 0 a. What are the assumptions for a given production possibilities curve? b. What is the opportunity cost of one pizza when moving from B to point C? What moving from D to point E? c. Do these combinations demonstrate constant or increasing opportunity costs?
- 12. What are the four factors of production? Thanks asap do it11 A trader has an absolute advantage in orange production if his unit-labor requirement in oranges is _____ and his labor productivity is _____ A. lower; higher B. higher; lower C. lower; lower D. higher; higher E. moderate; moderateCountry JKL has a maximum of 50 labour(hours). The tab shows maximum quantity of wheat and cotton the Country produce with different labour (hours) used. Combination A B C D E F Corn 15 14 12 9 5 0 Wheat 0 2 4 6 8 10 A) If Country JKL produces 8,000 kg of wheat and 5,000 kg cotton a week, does it face trade-off? Why? B) Suppose Country JKL has successfully brought in an adv technology that improves the production of cotton by 20% from its original combinations. Sketch a diagram that shows the changes of the PPC for Country JKL
- 4. Explain all resources that economy relies?What are the factors of production in the agriculture industry? Explain each factor needed by provide examples of each factor.It is clear that productive inefficiency is a waste since resources are used in a way that produces less goods and services than a nation is capable of. Why is allocative inefficiency also wasteful?
- What does a production possibilities frontier illustrate?What is productive efficiency? Allocative efficiency?Suppose you have inherited a few acres of landfrom a relative and you are considering what to dowith your inheritance. A farmer with land next toyours offers to buy your acres so he can expand hisgrazing area. How will you decide whether to sellyour land to the farmer? What factors should youconsider?