Alexandra's Production Possibilities Natalia's Production Possibilities Schedule Schedule Number of Scarves Number of Sweaters Number of Scarves Number of Sweaters Knitted per Day Knitted per Day Knitted per Hour Knitted per Hour 4 4 3 3 6. 4 9. 6. 12 0. Which of the following is an acceptable term of trade? Multiple Choice
Q: Provide the pros and cons of these strategies. Face-to-face interaction communication Phone…
A: Communication is the process of interchanging the information using the different median.
Q: Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value…
A: Consumer surplus refers to the difference between the actual amount paid by the consumer and the…
Q: Assessment Directions: ldentify the function of communication in each of the following situations.…
A: Controlling, motivational, expression of emotion, and information are the four characteristics of…
Q: The value of the next best alternative that had to be given up to do the action that was chosen is…
A: The next best alternative that had to be given up to do the action that was chosen is known to be…
Q: Production Possibilities Corn Rye (Bushels) (Bushels) 2,500 2,000 700 1,500 1,200 1,000 1,600 500…
A: GIVEN Production Possibilities Corn (Bushels) Rye (Bushels) 2,500…
Q: describe an important of trade-off you recently faced. Give an example of some action that has both…
A: Trade off refers to the situation where some amount of goods should be given up in order to gain…
Q: 1. The article poses the question: "So why do farmers put up with the hassle?" And then answers it:…
A: In the production process, the conditions and fluctuations that happen between demand and also the…
Q: You are an intern to the editor of a small-town newspaper in Mallsburg, Pennsylvania. Your boss, the…
A:
Q: Please cite the given and provide solutions on how to arrive at the highlighted answer.
A: A lease payments is the monthly equivalent of rent that is explicitly stipulated under a binding…
Q: Mohammed opened a new restaurant with Omani staff in Seeb specialized in Omani food. The restaurant…
A: With information technology,software would be created.
Q: Answer all the questions given below and also include sources. Google provides email users with…
A: Yes , Google provides email users with 15GB of “free” storage. The idea is to offer people with some…
Q: Question 1 Restricting websites to collect data about children under the age of 13 is covered by…
A: Hello, thank you for the question. Since there are multiple questions posted here, only the first…
Q: List and discuss in detail (thoroughly and carefully), two examples of the scarcity that you have…
A: When there is the presence of resources being fewer than actually being required for the fulfillment…
Q: what is the potential opportunity cost of upgrading to a balcony suite for your cruise around the…
A: In order to upgrade to a balcony suite, more money has to be sacrificed. This money could instead…
Q: __________ is the value of the next best alternative that is being given up. a. Production cost b.…
A: While producing any good or service, a producer employs a number of resources. It has to pay those…
Q: Learning Task 7: Read and analyze the texts below. In you write its connection to your personal…
A: The global pandemic had started in 2019 in China. After the arrival of pandemic, world started to…
Q: At the flower shop, where you manage twoemployees, your employees perform two tasks,caring for the…
A: Management refers to the technique or procedure used to organize various resources systematically.…
Q: Cost-Benefit Analysis A city is trying to estimate the most money it should offer to contractors…
A: A cost-benefit analysis is a systematic process used by businesses to determine which decisions…
Q: Elariz left his native land in the Eastern Europe to become a singer for a restaurant in a western…
A: In order to answer the above question let us first understand the different economic systems:…
Q: Learning Task 4: Arrange the jumbled letters to form a word. Use the clue indicated below, Write…
A: 1) Communication
Q: (Opportunity Cost) You can spend spring break either working at home for $80 per day for five days…
A: When it comes to evaluating a company's capital structure, opportunity cost analysis is vital. In…
Q: Which choice could help a student prove the claim made in Document B? 1. Statistics indicating a…
A: Prices refer to the amount that consumers in a particular market are willing to pay in exchange for…
Q: What is the meaning of the statement "Technology doesn't just get adopted because it works. It gets…
A: In a market, technology is one of the economic drivers that contribute to improving economic growth…
Q: If 4 hours is the efficient amount of time to exercise for the week, then exercising for 10 minutes…
A: The benefit that a person obtains from consuming one additional unit of an item or service is known…
Q: The current Covid-19 pandemic has affected various economic sectors around the world. Choose two (2)…
A: The Covid -19 pandemic has negatively impacted most economies around the world. The COVID- 19…
Q: Aroha has to choose among three possible activities to do on Sunday morning. She ranks her…
A: The opportunity cost of doing any activity is the sacrificed value of the next best alternative.…
Q: aking Effective Decisions ften illustrated with a graph or a table, shows the results under…
A: the opportunity cost of a specific action choice is the deficiency of significant worth or advantage…
Q: BRAIN-COMPATIBLE Activity 3 Directions: Read and answer. Write your answer in your notebook. 1. The…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: Advantages and disadvantages of not going to a family trip and staying to attend classes.
A: Grade is determined by many factors such as number of hours studied, number of class attended and so…
Q: Timothy quits his job, which pays $60 000 a year, to enrol in a 2-year graduate program. His annual…
A: Opportunity cost is an important concept in economics. Since resources are scarce, every time people…
Q: Many clothing stores purchased new fashions from clothing manufacturers back in the Fall, expecting…
A: Here the main concept is inventory management and scope of inventory because if the retailers keep…
Q: The time value of money is created by:
A: The concept of time value of money or TVM is essentially brought about by the fact that people…
Q: Go through the below visual and change it to tell a good story. Apply the story-telling techniques…
A: The given picture represents the budgetary expenditure of India. It shows how India is spending its…
Q: CHOICES: a. Both statements are TRUE b. 1st statement is TRUE, 2nd is FALSE c. Both statements are…
A: An economist is a person who analyses how individuals make choices and is interested in utilizing…
Q: goods a. The willingness and ability to take the risks involved in starting and managing a business.…
A: The given match the following is related to production and factors of production.
Q: In using tanks and trucks in a production possibilities curve with increasing opportunty cost…
A: A production possibility curve (PPC) shows various combinations of two goods that can be produced…
Q: Timothy quits his job, which pays $50400 a year, to enrol in a 4-year graduate program. His annual…
A: Answer: Introduction: Opportunity cost: it refers to the amount people give up when they take an…
Q: Your choice for the summer is to either work at home for 4 weeks and get $100 per week or to go to…
A: Opportunity cost is defined as the benefits an individual, business, or investor forgoes when he/she…
Q: The best way to present your report is? Select one or more: 0 a. Presentation is an important part…
A: In economics, report is prepared by economists when they use data to get information about specfiic…
Q: Analyze the given text, then make a decision. Be sure to give logical reasons for your decision.…
A: The region, although is rich in natural resources, suffers from a dismal economy, with half of the…
Q: Kayla has a business making steel ornamental lawn statues. The machine she uses to join pieces of…
A: There are 4 types of productive resources namely land, labour, capital & entrepreneurship. These…
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 1 images
- Use the following table to answer the question below. Alexandra’s Production Possibilities Schedule Natalia’s Production Possibilities Schedule Number of Scarves Knitted per Day Number of Sweaters Knitted per Day Number of Scarves Knitted per Day Number of Sweaters Knitted per Day 0 4 0 4 3 3 2 3 6 2 4 2 9 1 6 1 12 0 8 0 Which of the following is an acceptable term of trade? Multiple Choice 2 sweaters for 7 scarves 4 sweaters for 10 scarves 8 sweaters for 15 scarves 6 sweaters for 10 scarvesvidence accumulates that the use of chemical fertilizers, which increases agricultural production greatly, damages water quality. A) Explain in words how you would draw a production possibility curve to depict this (which “good” should be placed on each axis) and why your curve would have a particular shape. B) In what ways does the production possibilities curve from part a) reflect scarcity, choice and opportunity cost? C) Discuss THREE possible impacts of an improved fertilizer on the production possibility frontier from part a.Germany Production Possibilities (Production Alternatives) Product A B C D E F Autos 0 4 8 12 16 20 Chemicals 40 32 24 16 8 0 U.S. Production Possibilities (Production Alternatives) Product A B C D E F Autos 0 3 6 9 12 15 Chemicals 60 48 36 24 12 0 The data in the accompanying production possibilities tables (in millions of units) suggest that production in Multiple Choice Germany is subject to increasing opportunity costs and in the United States to constant opportunity costs. the United States is subject to increasing opportunity costs and in Germany to constant opportunity costs. both Germany and the United States is subject to constant opportunity costs. both Germany and the United States is subject to increasing opportunity costs.
- Below is the production possibilities table for consumer goods (maize) and capital goods (tractors):Type of productionProduction possibilities A B C D Emaize 30 27 21 12 0Tractors 0 2 4 6 8i. Show these data graphically. ii. If the economy is at point C, what is the cost of one more unit of maize? iii. Suppose improvement occurs in the technology of producing tractors but not in the technology of producing maize. Draw the new production possibilities curve. iv. Now assume that a technological advance occurs in producing maize but not in producing tractors. Draw the new production possibilities curve. v. Now draw a production possibilities curve that reflects technological improvement in the production of both goods.Refer to the table below. Type of Production Production Alternatives A B C D E Automobiles 0 2 4 6 8 Forklifts 30 27 21 12 0 a. Suppose improvement occurs in the technology of producing forklifts but not in the technology of producing automobiles. Draw the new production possibilities curve. Instructions: Use your mouse to click on either one or both of the endpoints of the PPC and drag inward or outward as necessary. b. Now assume that a technological advance occurs in producing automobiles but not in producing forklifts. Draw the new production possibilities curve. Instructions: Use your mouse to click on either one or both of the endpoints of the PPC and drag inward or outward as necessary. c. Now draw a production possibilities curve that reflects technological improvement in the production of both goods. Instructions: Use your mouse to click on either one or both of the endpoints of the PPC and drag inward or outward as necessary.Given that Sandy can produce 10 economics reports or 2 sales calls and Tim can produce 2 economics reports or 1 sales call, which of the following would NOT be a mutually agreeable terms of trade for Sandy and Tim? a) 1 economics report for 1 sales call b) 1 sales call for 4 economics reports c) 1 economics report for 1/4 of a sales call d) 1 sales call for 3 economics reports
- 1. Determining opportunity cost Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $103 for the skirt: Store Travel Time Each Way Price of a Skirt (Minutes) (Dollars per skirt) Local Department Store 15 103 Across Town 30 89 Neighboring City 60 63 Juanita makes $16 an hour at work. She has to take time off work to purchase her skirt, so each hour away from work costs her $16 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Complete the following table by computing the…Question Evidence accumulates that the use of chemical fertilizers, which increases agricultural production greatly, damages water quality. A) Explain in words how you would draw a production possibility curve to depict this (which “good” should be placed on each axis) and why your curve would have a particular shape. B) In what ways does the production possibilities curve from part a) reflect scarcity, choice and opportunity cost? C) Discuss THREE possible impacts of an improved fertilizer on the production possibility frontier from part a.Evidence accumulates that the use of chemical fertilizers, which increases agricultural production greatly damages water quality. a) Explain in your own words how you would draw a production possibility curve to depict this (which "good" should be placed on each axis) and why your curve would have a particular shape. b) In what ways does the production possibilities curve from part a) reflect scarcity, choice and opportunity cost? c) Discuss three possible impacts of an improved fertilizer on the production possibility frontier from part a.
- 3. Country A and Country B are two countries that each produce t-shirts (T) and sneakers (S). From its available resources and technology Country A can produce 100 t-shirts and 0 sneakers or 0 tshirts and 200 sneakers or any combination of t-shirts and sneakers that sits on Country A’s linear PPF. From its available resources and technology Country B can produce 50 t-shirts and 0 sneaker or 0 t-shirt and 50 sneakers or any combination of t-shirts and sneakers that sits on Country B’s linear PPF. a. On two separate graphs draw the PPF for Country A and Country B. Measure t-shirts on the vertical axis and sneakers on the horizontal axis. b. Write an equation in slope-intercept form for the PPF for Country A. c. Write an equation in slope-intercept form for the PPF for Country B1. Below is the production possibilities table for consumer goods (washing machine) and capital goods (tractor): Type of Production Production Possibilities A B C D E Washing Machine 0 4 8 12 16 Tractor 60 54 42 24 0 a) Show these data graphically. b) If the economy is at point B, what is the cost of one more washing machine? What is the cost of one more tractor? c)Explain how the production possibilities frontier reflects the law of increasing opportunity costs.Below is the production possibilities table for consumer goods (washing machine) andcapital goods (tractor): Type of Production Production Possibilities A B C D E Washing Machine 0 4 8 12 16 Tractor 60 54 42 24 0 a. Show these data graphically.b. If the economy is at point B, what is the cost of one more washing machine?What is the cost of one more tractor?c. Explain how the production possibilities frontier reflects the law ofincreasing opportunity costs.