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- Drawing a production possibilities frontier (PPF) Instructions: Consider an economy than only produces two goods - Blueberries and Batteries. Step 1: Draw a production possibilities frontier (PPF) for this economy. Label blueberries on the vertical axis and batteries on the horizontal axis. Label one point that is "efficient", one point that is "inefficient", and one point that is "unattainable". Step 2. Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was a technological change that increased the production of batteries only. (Hint: The intercept for blueberries will not change.) Clearly label the new PPF. Step 3. Draw another PPF of the economy with the axes labeled. Grab another color pen/pencil/highlighter and show how the PPF would change if there was a drought that destroyed some of the blueberry harvest. (Hint: The intercept for batteries will not change.) Clearly label the new…In Kessy’s old kitchen, he could bake 10 cookies or mix 15 glasses of lemonade in a day. Now he has a bigger oven and kitchen. Draw Kessy’s initial PPF assuming constant opportunity cost between cookies and lemonade. Label it PPF1. [For this question, let cookies be illustrated on the horizontal axis.] Given PPF1, what is the opportunity cost of producing more cookies? In other words, how much lemonade must Kessy sacrifice to produce, say, one more cookie? Draw Kessy’s new PPF (label it PPF2) after he receives the new appliances.In production possibility frontier analysis, which mixes of goods are considered efficent by an economy? a. Only those mixes falling on the PPF curve b. Those mixes on, or to the left of the PPF c. Those mixes on, or to the right of the PPF curve only those mixes falling to the left of the PPF curve.
- Please no written by hand and no image 1. Use the following data to answer the following questions. 3 Table shows the production possibilities for the country XYZ: Table -1 Rice Beef 0 5 5 4.5 9 3.5 12 2 14 0 (a) Draw a Production Possibility Frontier (PPF). (b) How does the PPF illustrate scarcity? (c) How does the PPF illustrate production efficiency? (d) How does the PPF show that every choice involves a tradeoff? (e) How does the PPF illustrate opportunity costJoel can prepare 8 meals or wash 24 shirts in a day, Patricia can prepare 6 meals or wash 12 shirts in a day . What is Joel's opportunity cost washing one shirt?You’re given the following information about a newlywed couple Mike and Debbie. The table provides you with the time it takes each of them to do different chores: vacuuming a room or washing a load of dishes. Mike Vacuum 1 room = one hour 2 loads of laundry = one hour Debbie Vacuum 2 rooms = one hour 1 load of laundry = one hour What is Debbie's opportunity cost of washing a load of laundry in terms of vacuuming? Group of answer choices The ability to vacuum 2 rooms. The ability to vacuum 1/2 a room. The ability to vacuum 3 rooms. The ability to vacuum one room.