II. Graphing: Using the Total Production Frontier below, make a TPF graph with proper point and axis labels. Production Points ABCDE Workers 5 6 878 O 7 9 Produced 200 240 275 275 265
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- With reference to relevant example and diagrams, explain the concept of ProductionPossibility Frontier.Hello, i have posted this question many times in bartleby, but every time people answering this question to use ai tool like chatgpt, please dont use gpt and other ai tool. Provide me original answers with proper explanations. thank you.Question: What is the Production Possibility Frontier?Please Don't use chatgpt or other ai tool. If you know correct answer then attempt if you gave wrong answer then i gave many dislikes for you and more from my friends accounts also.Describe a constant production possibility frontier cost graph.
- 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 100A point inside the production possibilities frontier isa. efficient but not feasible.b. feasible but not efficient.c. both efficient and feasible.d. neither efficient nor feasibleThe question is simple. Consider an economy with just one technique for production of each good: Good Food Cloth Labor per unit output 1 1 Land per unit output 2 1 Capital per unit output 0.8 0.9 Q1. There are 100 units of capital available. Write and draw the production possibility possiblity curve in this case. Label all the important points clearly.
- What’s the formal name for the A_bar parameter in the production model we study? A. Average GDP B. Total factor productivity C. Per capita GDP D. Per capita capitalProduction at a point inside the production possibilities frontier is unattainable and inefficient attainable and efficient attainable and inefficient unattainable and efficientDiscuss the concept of production on various point of economists. Cite example on the basis of every economists perspective cited on these module.
- Discuss in detail the production possibility curve by linking that to the concept of pareto,productive and allocative efficiency /inefficiency (with the use of well labelled graph)A movement along a macro production possibilities frontier is caused by a change in Select one: a. technological change. b. the quantity of inputs. c. the quality of inputs. d. all of the above. e. none of the above.Explain three different kinds of economic systems. Explain the Law of Diminishing Returns and illustrate with a relevant example Explain the Production Possibilities Frontier Model.
