If an unattainable point outside a production possibilities curve can become an attainable and even an efficient point, can an inefficient point become an efficient point in the production possibilities curve model? Explain with a graph.

Q: The following can cause the production possibilities curve to shift to the right? a. Indifference…

A: Answer: Correct option: (d) Explanation: The production possibility curve refers to the curve that…

Q: Explain why the slope of the production possibilities curve becomes steeper as we move along the…

A: The production possibility curve (PPC) refers to a graphical representation of various combinations…

Q: Identify the scarcity definition of economics from the following. a. the distribution of surplus…

A: Economics focuses on how the economies work, basically, the consumption, production and distribution…

Q: Sketch a production possibilities curve on which you illustrate a shift to the right.

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

Q: Which of the following statements about the production possibilities curve is the most accurate? O…

A: The production possibility curve in economics is a curve that explains the combination of two goods…

Q: give 1 of the following statements that is NOT true regarding the production function and the…

A: b. The production function describes the capacity of a single firm, whereas the production…

Q: The production possibilities curve represents the maximum combination of goos and services that can…

A: In business analysis, the production possibility curve (PPC)  represents the possible quantities…

Q: Under what circumstances in the Philippines can we operate outside the production possibilities…

A: The production possibilities curve can be explained as a graphic illustration of the most efficient…

Q: Graph 3: Draw a production possibilities model and using your own numbers, explain the concept of…

A: The production possibility curve shows different combinations of output that can be produced by…

Q: Explain how each of the following situations would affect a nation's production possibilities curve.…

A: The new law is ensuring the all employee to have 16 weeks paid vacation each year, it was given that…

Q: B PP PP PP Consumer Goods Refer to the diagram. An improvement in technology will Multiple Choice…

A: The graph shows production possibility curve that shows combinations of two goods that can be…

Q: Suppose the economy initially produces 9,000 pieces of clothing and 500 million barrels of oil,…

A: A production possibility frontier (PPF) shows the maximum possible output combinations of two goods…

Q: Question No 2:  Below is a production possibilities table for consumer goods (automobiles) and…

A: The production chance frontier (PPF) could be a curve that depicts the most amounts of 2 things…

Q: Classify the following as microeconomics or macroeconomics and provide a justification for your…

A: Micro economics is a study of micro units like individuals and business firms while macro economics…

Q: Which of the following are the assumptions of the production possibility curve? a. Two goods are…

A: When analyzing the relationship between input and output resources using production possibility…

Q: If capital can only be used to produce shoes, land can only be used to produce beans, and labor is…

A: Given capital and land are immobile and can only produce shoes and beans respectively, labor would…

Q: Distinguish between Micro and Macroeconomics

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

Q: Which of the following statements is NOT true regarding the production function and the production…

A: THESE OPTIONS ARE WRONG  B)  The production possibilities frontier (PPF) is a financial model used…

Q: Which of the following statements is true of scarcity? A. Scarcity only effects developing…

A: Scarcity: - it is the very basic problem of economics that is related to the limited availability of…

Q: What are the two major ways in which an economy can grow and push out its production possibilities…

A: The production possibilities curve denotes the maximum output that an economy can produce at its…

Q: how does discovery of a new source of oil affects the production possibilities curve?

A: The production possibility curve or PPC is the locus of the combination of goods and services that…

Q: Which of the following would shift an economy's production possibilities curve to the left? Select…

A: Production possibility curve shows the combination of production of two different goods at a limited…

Q: Production possibilities represent the various combinations of two goods that can be produced given…

A: PRODUCTION possibility curve means combinations of two goods that can be produced with given level…

Q: Use the figure below to answer the following questions. What is the opportunity cost of increasing…

A: A production possibilities curve shows various combinations of two goods that can be produced in an…

Q: You win $100 in a basketball pool. You have a choice between spending the money now or putting it…

A: Let us define the concept of opportunity cost. Opportunity cost theory states that the cost of a…

Q: During the American Civil War, the South’s factories and farm land were decimated.  It also suffered…

A: The production possibility curve shows the combinations of outcome/output a firm can produce by…

Q: What is the difference between positive and normative analysis? Which of the following statements…

A: The positive analysis is an analysis that can be tested and developed. These statements are…

Q: Like a good economist, you calculated the cost of getting your college degree, including the…

A: Let's summarize the given information  Tuition cost in university is $12000 per year The total cost…

Q: The production possibilities curve illustrates the notion of opportunity cost because A. as more of…

A: Meaning of Opportunity Cost: The term opportunity cost refers to the situation under which the…

Q: “Scarcity is the fundamental problem that every nation in this world faces.”  What do you mean by…

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: Write TRUE if the statement is right and FALSE if it is wrong:   _____    9. We run into scarcity…

A: The economics is the study about the allocation of limited across the people of the country.…

Q: many countries produce a single good upon which much of their economy depends. That good might be…

A: The production possibility frontier (PPF) is a graph that depicts the maximum amount of two items…

Q: How will a reduction in the number of hours worked each day affect an economy's production…

A: The production possibilities curve shows the combination of two goods that an economy can produce…

Q: Which of the following will shift an economy's production possibilities curve outward?

A: Production possibility curve is the graphical illustration of the the combination of two goods that…

Q: Refer to Exhibit 3-8. At Point B in the production possibilities graph shown, the economy: a. is not…

A: A production possibility curve is a curve that shows the possible quantities that can be produced of…

Q: Which of the following may lead to an outward shift of the production possibilities curve? a.…

A: The production possibilities curve “is a frontier between all combinations of products that can be…

Q: The data below shows the various production possibilities for an economy that produces two goods,…

A: Hi Student, Thanks for posting the question. As per the guideline, we are providing the answer for…

Q: The leader of a political party made the following campaign promise: "My administration will…

A: Production possibility frontier shows combinations of two goods that can be produced with the given…

Q: Which of the following would be most likely to shift the production possibilities curve to the…

A: The production possibilities curve(PPC) depicts the mix of consumer and capital products that a…

Q: Scarcity is a problem because... Group of answer choices There are not enough resources to produce…

A: Scarcity refers to shortage of resources in response human wants.

Q: Referring to the table in question 10, suppose improvement occurs in the technology of producing…

A: The production possibility frontier refers to the possibilities of production by a firm. The…

Q: Explain how this relates to economic resources and production possibilities, considering…

A: Semiconductor which is used to produce from fast-food containers to stuffed animals and many…

Q: three factor that might cause the production possibilities curve to shift to the right or outward

A: "Production possibilities curve represent the combination of two goods produced in an economy with…

Q: “If resources were unlimited and were freely available, there would be no subject called…

A: From this statement we suggest that If resources were unlimited and freely offered, creating…

Q: If an economy is producing inside its production possibility curve, it reflects…

A: Production possibility curve explains the trade-off between combinations of 2 goods or services.…

Q: A production possibilities curve can shift inward if there is a. an increase in productivity b. an…

A: It is crucial to use resources in the economy wisely while producing goods and services because they…

Q: Use the following table to answer the question below.     Dave's Production Possibilities Schedule…

A: