Normal textI UD田四▼Times New. -11Here is the production possibilities table for war goods and civilian goods:Production AlternativeTypes of ProductionAETanks10203040Bread75685447Draw a production possibilities curve for tanks and bread using the data above.b. Label the points where the economy would be efficient (A), underutilized (B) and unattainable (C).c. What is the opportunity cost of moving from point A to point B?d. What is the opportunity cost of moving from point B to point C?e. What is the opportunity cost of moving from point D to point E?a.

Name: Normal textI UD田四▼Times New. -11Here is the production possibilities
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Description: Normal textI UD田四▼Times New. -11Here is the production possibilities table for war goods and civilian goods:Production AlternativeTypes of ProductionAETanks10203040Bread75685447Draw a production possibilities curve for tanks and bread using the data

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Business

Economics

e production possibilities

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 6P

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Direction: Plot the Production Possibilities Frontier of the below-data with good X on the horizontal axis and good Y on the vertical axis. GOOD PRODUCTION ALTERNATIVES A B C D E X 0 15 18 21 24 Y 45 42 37 27 0 Question: Explain the different points on the curve. What does each point represent? Why is it important for an economy to be on its production possibilities frontier?
Suppose the Nation of Doodag can produce only doods and dags, and that its production possibilities schedule is as follows: DOODS DAGS 0 1,000 200 800 350 600 425 400 500 200 550 0 a. Construct a graph showing DOODAG’S production possibilities curve. b. Pick a point on the graph (label it B) that shows a combination of doods and dags that Doodags cannot now produce a combination of both goods and explain your answer clearly. c. Pick another point on the graph (label it C) that shows a combination of doods and dags consistent with some idle resources and explain your answer clearly. d. Pick another point on the graph (label it D) that doodag cannot produce based on the Nation’s current fixed resources.
Please answer both I have no more question sirii rate of your answer. 3- You are looking at a graph of the Production Possibilities Frontier (PPF). Points which are located to the right of the PPF (or "outside" the PPF) can be described as: a. efficient points b. inefficient points c. unattainable points d. none of the above 4- Designing a government policy to increase total employment is a: a. macroeconomic issue b. microeconomic issue
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…
The quantities shown are taken from a production possibilities frontier for an economy with diminishing returns. The blank in the table could be which value? Bags Courses 40 300 60 ? 80 100
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?
Examine the central problems of an economy given below and select the one that cannot be represented in a production possibility curve. a. What to produce? b. How to distribute? c. Full utilization of resources d. How much to produce?
The following is a production possibilities table for war goods and civilian goods: Production alternatives A B C D E Automobiles 0 2 4 6 8 (in millions) Guided missiles 30 27 21 12 0 (in thousands) •Show these production possibilities data graphically. •What does points on the curve indicate? •If the economy is currently at point C, what is the cost of 1 million more automobiles? Of more guided missiles? •Suppose improvement occurs in the technology of producing guided missiles but not in the production of automobiles. Draw the new production possibilities curve
vidence 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.
( a) why is the slop of PPF downward? (b) why does the PPF look concave to the origin? (c) What is positive economic analysis?
The table shows the production possibilities of a small Pacific island economy. Possibility Fish Berries (pounds) (pounds) A 0 and 20 B 1 and 18 C 2 and 15 D 3 and 11 E 4 and 6 F 5 and 0 If the islanders change production from possibility C to possibility D , they ________. A. get a free lunch of 1 pound of fish and don't incur an opportunity cost B. face a tradeoff and incur an opportunity cost of 1 pound of fish C. gain 4 pounds of berries and give up 1 pound of fish D. face a tradeoff and incur an opportunity cost of 4 pounds of berries screenshot attached
Productivity Table Soup per unit of labor Swords per unit of labor Wesley 30 25 Fezzik 10 30 What is the opportunity cost of swords if total sword production is 40?