3. What is a production possibility frontier? State the assumptions and two types of PPF. What is the basic difference between them and which one is more relevant to the real world. Using a PPF, state the different points regarding efficiency, inefficiency and productively inefficient points. Explain the factors which can cause a PPF to shift inwards.

Q: Table 1: Production Capacity of COVID-FREE LAND.Toilet Rolls Sanitizers30,000 028,000 1,00024,000…

A: An economy has a given amount of resources that it has to employ in the most efficient manner. In…

Q: Assume a country produces haircuts and shirts with inputs of labour. The country has 100 hours of…

A: The production possibility (PPF) frontier is the locus of different combinations of commodities that…

Q: Draw and explain a production possibilities frontier for an economy that produces milk and flowers.…

A: Production Possibility Frontier : The Production Possibility Frontier shows the combination of two…

Q: 5. Economic growth and PPCs PPC₁ shows the current production possibilities curve (PPC) for the…

A: Production possibility frontier is a curve is a curve that displays the assortment of items that can…

Q: 2. Given the following diagram of a production possibilities frontier for a country. Assume that…

A: As we answer only 3 subparts, and the question has more than 3 subparts, we are answering the first…

Q: 1. Suppose you are a farmer with 20 hectares of land on which you could grow either wheat or barley.…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Discuss any five factors that may cause production possibility frontier (PPF) curve to shift.

A: In economics, the PPF or the production possibility curve is a locus that shows the feasible…

Q: a) why is the slop of PPF downward? (b)  why does  the PPF look concave to the origin? (c) What is…

A: The production possibilities frontier represents the combinations of goods and services that a…

Q: 1. Discuss any five factors that may cause production possibility frontier (PPF) curve to shift. 2.…

A: Since you have posted multiple questions, we will solve the first question for you. If you want any…

Q: This is question one but I’m not sure what I’m actually supposed to be drawing because there are no…

A: Hey, Thank you for the question. According to our policy we can only answer 3 subparts per question.…

Q: 12. Use the production possibility curve (PPC) to answer the question. If Zambia is currently on…

A: The production possibility curve (PPC) shows the bundle of two commodities that a country can…

Q: Assume the economy of Scoob can produce 5 tons of rice and 15 tons of wheat while the economy of…

A: The opportunity cost of producing one unit of good X is a sacrifice of the production of good Y.…

Q: 1. Specialization and production possibilities Suppose Germany produces only cars and trucks. The…

A: Production possibilities frontier shows combinations of goods that can be produced within given…

Q: 1. Specialization and productio Suppose France produces only tablets and smartphones. The resources…

A: Answers   1.Remain constant Suppose France produces only tablets and smartphones. The resources…

Q: Choice DRUMS A B C D E 30 25 20 15 10 5 0 0 On the following graph, use the blue points (circle…

A: Opportunity cost refers to the sacrifice of the second best alternative when one particular…

Q: 2. Given the following diagram of a production possibilities frontier for a country. Assume that…

A: The production possibility frontier (PPF) shows the combination of two goods that can be produced…

Q: If the production possibilities frontier can be expressed as 4X2 + Y2 =16, then the point X=√3…

A: Given,   PPF: 4X2+ Y2 = 16  X = √3, Y = 2

Q: Question 1 Using a production possibilities frontier (PPF) diagram, determine how does the PPF…

A: Production possibility frontier has been analyzed over the two products and including the curve that…

Q: 1. Specialization and production possibilities Suppose Canada produces only tablets and smartphones.…

A: Introduction Here production possibility curve of Canada has shown. Production possibility curve is…

Q: . Which of the following is a normative statement? a. An increase in taxes raises the price of a…

A: Economics is a social science. It makes use of a systematic structure to formulate theories, such…

Q: Explain how the shape of the production-possibility frontier implies increasing costs for the…

A: Points Clothing Food A 16 0 B 15 2 C 13 4 D 10 6 E 6 8 F 0 10

Q: a Explain the economic link between scarcity, choice and opportunity cost.

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: 2. Given the following diagram of a production possibilities frontier for a country. Assume that…

A: Production Possibility Frontier shows the combination of two goods that can be produced with the…

Q: Consider an economy that produces bicycles and autos. The production possibilities schedule shown…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: 1: The following schedule shows the combination of the total production of Aerospace production…

A: Production Possibility Frontier : A Production Possibility curve may be defined as a curve which…

Q: 264 144 48 50 170 320 440 500 Food

A: Opportunity cost=sacrifice/gain 264-144/320-170=120/150 Therefore 120 clothes have to be sacrificed.

Q: Assume a country produces haircuts and shirts with inputs of labour. The country has 100 hours of…

A: The following problem has been solved as follows;

Q: 3. Suppose that there are 10 million workers in Canada and that each of these workers can produce…

A: Opportunity Cost is defined as the benefit that is forgone or the benefit that could have been…

Q: a. What is the opportunity cost of producing the first smartphone (point a to b) in terms of the…

A: Opportunity cost: Opportunity cost is defined as the value that would be incurred by accepting that…

Q: 4. An increase in the nation's capital stock will   shift the PPC outward. move the nation from…

A: NOTE: We'll answer the first question, since the exact one isn't specified. Please submit a new…

Q: 2. Draw and explain a production possibilities frontier for an economy that produces milk and…

A: Note: We will answer the first question as the exact one was not specified. Please resubmit a new…

Q: Production Possibilities Frontier (Ch. 2) Computers D B PPF₁ PPF₂ Bread (1) Economic growth in this…

A:

Q: Q2. What does point Y represent on the PPC? Production Possibllity Frontier (PPF) Product B: Cotton…

A: PPC indicates all the feasible combinations of two goods that can be produced.

Q: Direction: Plot the Production Possibilities Frontier of the below-data with good X on the…

A: Production possibility frontier is a curve that shows different bundles of good X and good Y that is…

Q: part D E F needed  Consider Points A, B, C, D, E, F and G. a. Which points are inefficient?…

A: d) In the given picture, the shape of the PPF curve is concave which implies the diminishing…

Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.