Crows, and other birds, are eating your wheat, but not your barley. If you set up animatronic scarecrows you will increase your wheat yield to 3 wheat per acre, but not change your barley yield. The scarecrows need space to move around in, so if you set them up you will lose 5 acres. If you are allowed to set up scarecrows, which best describes the shape of your PPF? a. A single straight line, since adding scarecrows doesn’t change the fact that each acre is just as good at producing wheat or barley as any other acre. b. A concave (outward bending) smooth curve. c. A concave (outward bending) curve made up of two straight lines with different slopes that meet at a kink. d. A convex (inward bending) curve made up of two straight lines with different slopes that meet at a kink
Crows, and other birds, are eating your wheat, but not your barley. If you set up animatronic scarecrows you will increase your wheat yield to 3 wheat per acre, but not change your barley yield. The scarecrows need space to move around in, so if you set them up you will lose 5 acres. If you are allowed to set up scarecrows, which best describes the shape of your PPF? a. A single straight line, since adding scarecrows doesn’t change the fact that each acre is just as good at producing wheat or barley as any other acre. b. A concave (outward bending) smooth curve. c. A concave (outward bending) curve made up of two straight lines with different slopes that meet at a kink. d. A convex (inward bending) curve made up of two straight lines with different slopes that meet at a kink
Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
Section: Chapter Questions
Problem 7SQ
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Crows, and other birds, are eating your wheat, but not your barley. If you set up animatronic scarecrows you will increase your wheat yield to 3 wheat per acre, but not change your barley yield. The scarecrows need space to move around in, so if you set them up you will lose 5 acres.
If you are allowed to set up scarecrows, which best describes the shape of your PPF ?
a. A single straight line, since adding scarecrows doesn’t change the fact that each
acre is just as good at producing wheat or barley as any other acre.
b. A concave (outward bending) smooth curve.
c. A concave (outward bending) curve made up of two straight lines with different slopes that meet at a kink.
d. A convex (inward bending) curve made up of two straight lines with different slopes that meet at a kink.
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