SECTION#\\00NAME_OiNa.NoemiPRINT LAST NAME, FIRST NAMEUse the graph below to answer questions 7 through 10.Can Openers14,00012,00010,0008,0006,000PPF24,000HoimiogPHF12,0001 2 3 4 5 6 7 8 Drill Presses7.On PPF1, all of the following output combinations are currently attainable except:12,000 can openers and 0 drill presses.10,000 can openers and 6 drill presses.4,000 can openers and 6 drill presses.0 can openers and 7 drill presses.a.eimoo da8bnn AC.d.irtacan openers.8,000On PPF1, the opportunity cost of the 7th drill press is approximately4,0008.d.6,000b.C.2,000a.An increase from PPF1 to PPF2 makes it possible to produce approximately9.additional can openers if 7 drill presses are produced.4,0005,000b.C.d.2,0007,000a.All of the following events would lead to a shift from PPF1 to PPF2 except:10.Improved technologyAn increase in the size of the labor forceA decrease in the capital stock caused by depreciation of machines and toolsGreater investment in education leading to a more productive workforcea.b.d.o-bowod s

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Asked Jan 28, 2020
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Question 8

SECTION#\\00
NAME_OiNa.Noemi
PRINT LAST NAME, FIRST NAME
Use the graph below to answer questions 7 through 10.
Can Openers
14,000
12,000
10,000
8,000
6,000
PPF2
4,000
Hoi
miog
PHF1
2,000
1 2 3 4 5 6 7 8 Drill Presses
7.
On PPF1, all of the following output combinations are currently attainable except:
12,000 can openers and 0 drill presses.
10,000 can openers and 6 drill presses.
4,000 can openers and 6 drill presses.
0 can openers and 7 drill presses.
a.
eimoo da
8bnn A
C.
d.
irta
can openers.
8,000
On PPF1, the opportunity cost of the 7th drill press is approximately
4,000
8.
d.
6,000
b.
C.
2,000
a.
An increase from PPF1 to PPF2 makes it possible to produce approximately
9.
additional can openers if 7 drill presses are produced.
4,000
5,000
b.
C.
d.
2,000
7,000
a.
All of the following events would lead to a shift from PPF1 to PPF2 except:
10.
Improved technology
An increase in the size of the labor force
A decrease in the capital stock caused by depreciation of machines and tools
Greater investment in education leading to a more productive workforce
a.
b.
d.
o-bowod s
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SECTION#\\00 NAME_OiNa.Noemi PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 7 through 10. Can Openers 14,000 12,000 10,000 8,000 6,000 PPF2 4,000 Hoi miog PHF1 2,000 1 2 3 4 5 6 7 8 Drill Presses 7. On PPF1, all of the following output combinations are currently attainable except: 12,000 can openers and 0 drill presses. 10,000 can openers and 6 drill presses. 4,000 can openers and 6 drill presses. 0 can openers and 7 drill presses. a. eimoo da 8bnn A C. d. irta can openers. 8,000 On PPF1, the opportunity cost of the 7th drill press is approximately 4,000 8. d. 6,000 b. C. 2,000 a. An increase from PPF1 to PPF2 makes it possible to produce approximately 9. additional can openers if 7 drill presses are produced. 4,000 5,000 b. C. d. 2,000 7,000 a. All of the following events would lead to a shift from PPF1 to PPF2 except: 10. Improved technology An increase in the size of the labor force A decrease in the capital stock caused by depreciation of machines and tools Greater investment in education leading to a more productive workforce a. b. d. o-bowod s

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Expert Answer

Step 1

The production possibility frontier shows the different combinations of two goods that the economy can produce by using the available resources and technologies fully and efficiently.

Step 2

Figure 1 shows the production possibility frontier of drill presses and can openers. In this figure, the vertical a...

Economics homework question answer, step 2, image 1
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