Based on the graph, what is the opportunity cost of moving from point B to point D? Baseballs 200 150 C 100 50 100 200 300 400 Bananas Select one: a. 100 bananas and 100 baseballs O b. 100 bananas and 50 baseballs O c. 50 baseballs O d. none of the answers are correct O e. 100 bananas B.
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A: Note:- “Since you have asked multiple question, we will solve the first question for you. If you…
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A: PRODUCTION POSSIBILITY FRONTIER (PPF) is a curve which shows the combination of producing two goods…
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A: Opportunity cost refers to the cost of best next foregone. Basically it is the cost of that thing…
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A: In economics, opportunity cost states the total amount of output given up by the individual to…
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A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
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A: The opportunity cost is the next best alternate or the next best alternate that is given up.
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A: Since you have asked to solve from D to F so I am answering that only.
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A: Trade helps to specialize in activities which have comparative advantage.
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Q: Which of the following would shift an economy's production possibilities curve to the left? Select…
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Q: Based on the graph, what is the opportunity cost of moving from point B to point D? Baseballs A 200…
A: Opportunity cost is the foregone benefit when an alternative is preferred.
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- During the Second World War, Germanys factories were decimated. It also suffered many human casualties, both soldiers and civilians. How did the war affect Germanys production possibilities curve?Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a positive or normative statement?points Suppose that Teavana produces boxes of Jade Citrus Mint Tea and Spiced Apple Cider. Below are the possible combinations of Jade Citrus Mint Tea and Spiced Apple Cider that Teavana can produce. Combination Jade Citrus Mint Tea (X axis) Spiced Apple Cider (Y axis) A 0 50 B 16 45 C 30 35 D 40 20 E 47 0 What is the opportunity cost (amount & item) of the first 16 Jade Citrus Mint Tea boxes produced? [a]______________ What is the opportunity cost (amount & item ) of increasing production from 16 Jade Citrus Mint Tea to 30 Jade Citrus Mint Tea? [b] _________________ What is the opportunity cost (amount & item) of increasing production from 30 Jade Citrus Mint Tea to 40 Jade Citrus Mint Tea? [c] _________________ What is the opportunity cost (amount & item) of increasing production from 40 Jade Citrus Mint Tea to 47 Jade Citrus Mint Tea? [d] _________________ What is happening to the opportunity cost as…
- Suppose that there are 10 million workers inCanada and that each of these workers can produce either 2 cars or 30 bushels of wheat in a year. a. What is the opportunity cost of producing acar in Canada? What is the opportunity costof producing a bushel of wheat in Canada?Explain the relationship between the opportunity costs of the two goods. b. Draw Canada’s production possibilities frontier. If Canada chooses to consume 10 millioncars, how much wheat can it consume without trade? Label this point on the productionpossibilities frontier. c. Now suppose that the United States offers tobuy 10 million cars from Canada in exchangefor 20 bushels of wheat per car. If Canadacontinues to consume 10 million cars, howmuch wheat does this deal allow Canada toconsume? Label this point on your diagram.Should Canada accept the deal?An inventor found a new way to produce more steel from each ton of her country’s iron ikr. How would a production possibilities curve reflect the application of that discovery to the country’s production of steel cookware? Why?While producing on the production possibilities frontier. if additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be Select one: O a. boswed outward. O b.a straight line. O c bowed inward. O d. positively sloped.
- The table below shows production points on Sweet-Tooth Land's production possibilities frontier. What is the opportunity cost of one chocolate bar if Sweet-tooth Land moves from point C to point D? B) 10 cans of cola per chocolate bar C) 3 cans of cola per chocolate bar D) 1/3 can of cola per chocolate bar A) 30 cans of cola per chocolate baSuppose that an economy produces only 2 goods, beer and pizza. Show a typical production possibilities frontier for this country and use it to define and explain the opportunity cost concept and the concept of increasing opportunity costs. If a technology was invented that made the production of beer much more efficient but had no effect on the production of pizza how would the production possibilities frontier change (show it). While all points on the production possibilities curves maximize production, which point maximizes satisfaction? 1. With reference to a diagram, show and explain how a market, left on its own, will tend toward an equilibrium in which there is neither a surplus nor a shortage of the product. 1. What condition must be met in order to conclude that an economy is maximizing social well-being? Do the equilibriums given by individual markets necessarily lead to the maximization of social well-being (that is, if demand is equal to supply, can you conclude that…Suppose the economy initially produces 15,000 gallons of drinking water and 450,000 tons of steel, which is represented by point A. The opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving production to point B) is (72,000, 135,000, 90,000, 54,000, 108,000) tons of steelSuppose, instead, that the economy currently produces 378,000 tons of steel and 20,000 gallons of drinking water, which is represented by point B. Now the opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving to point C) is (72,000, 135,000, 90,000, 54,000, 108,000) ons of steel.Comparing your answers in the two previous paragraphs, you can see that the opportunity cost of 5,000 additional gallons of drinking water at point B is (Less, Equal, Or Greater Than) the opportunity cost of 5,000 additional gallons of drinking water at point A. This reflects the (Notion that Countries can gain from trade, Law of Increasing Opportunity Costs, Fact…
- Return to the example in Figure 2.4. Suppose there is an improvement in medical technology that enablesmore healthcare with the same amount of resources. How would this affect the production possibilities curve and, inparticular, how would it affect the opportunity cost of education?Combination Bananas metric tons (X axis) Coffee metric tons (Y axis) A 20,000 0 B 18,000 11,000 C 14,000 20,000 D 8,000 27,000 E 0 30,000 What is the opportunity cost (amount & item) of the first 11,000 tons of coffee produced? ______________________ What is the opportunity cost (amount & item) of increasing production from 11,000 tons of coffee to 20,000 tons of coffee ? ________________ What is the opportunity cost (amount & item )of increasing production from 20,000 tons of coffee to 27,000 tons of coffee? ____________"Only answer c-d ones" (a) Calculate the opportunity cost of producing one additional unit of good x in terms of units of good y in Home and Foreign. The opportunity cost of producing one additional unit of good x in Home or foreign is the amount of good y that must be given up to produce it. At Home, one worker can produce 2 units of good x or 1 unit of good y. Thus, to produce one additional unit of good x, half a unit of good y must be given up. The opportunity cost in Home is 0.5 units of good y. In Foreign, one worker can produce 1 unit of good x or 2 units of good y. To produce one additional unit of good x, two units of good y must be given up. The opportunity cost in Foreign is 2 units of good y. (b) Derive the production possibilities frontier (PPF) for Home and Foreign and plot it in a graph with good x in the horizontal axis and good y in the vertical axis. To derive the production possibilities frontier (PPF) for Home and Foreign, we use the labor market clearing condition…
