Suppose a nation has a total of 12 units of labor, which can be used to produce either guns or butter. One gun takes 6 units of labor to produce and 1 butter takes 2 units of labor to produce. Create a graph to calculate the opportunity cost.

Q: The table below shows the production schedule of Cookies and Pizza in the country of Greatstown:…

A: Opportunity cost  of Pizza  = Sacrificing production of Cookies / Gain in production of Pizza…

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: Suppose there are a million workers in France. Each worker can product 2 cars or 40 bushels of…

A: Opportunity cost refers to the loss incurred by giving up the next best alternative while making a…

Q: Justin's farm can produce 5 pounds of apples or 17 pounds of pears in one hour. Samantha's farm can…

A: Opportunity costs basically refers to the the potential advantages that a person, investment, or…

Q: Q1 The chart below shows how many days it takes Walton and Singer to produce one unit of AC (air…

A: Consider Walton and Singer has 2040 days each [We select 2040 days because it is LCM of 8, 10, 12,…

Q: Generally, opportunity costs increase and the production possibilities curve bows outward. Why?

A: The production possibility curve is the locus of different combinations of two goods that an economy…

Q: Productivity Table     Soup per unit of labor Swords per unit of labor Wesley 30 25 Fezzik 10 30…

A: The opportunity cost refers to the given up benefits to obtain some other benefits.

Q: Suppose Argentina produces only two goods: corn and DVDS. The following graph shows Argentina's…

A: Points located inside the PPF ie A and F represent inefficient output combination. At these points,…

Q: a. What is Paulie's opportunity cost of producing a cup of ice cream? Paulie's opportunity cost:…

A: Paulie's opportunity cost of ice cream = 17/3 = 5.67 t-shirts

Q: What is an real-life example of a opportunity cost?

A: Opportunity cost: - opportunity cost is a forgone benefit which we could have earned by applying all…

Q: ITEM A B C D E Pretzels 0 300 450 600 700 Notebooks 125 100 50 25 0 What is the opportunity cost of…

A: Opportunity cost is the cost that we have to bear in terms of other goods. Resources are scarce and…

Q: The following schedule shows the combination of the total production of Aerospace production…

A: Economic resources square measure the parts used within the manufacture of products or the…

Q: Mike Debby 60 minutes Vacuum room 45 minutes 30 minutes 45 minutes Wash Dishes What is Mike's…

A: Note: Since, you've posted question with multiple sub-parts, we will solve the first the first three…

Q: föllowing production possibilities frontier for a country to answer the following questions. Which…

A: The curve that shows a combination of the level of two goods that can be manufactured using the…

Q: Assume China has 10,000 workers. Suppose that each Chinese worker produces either 30 pairs of boots…

A: Answer: Given, Total number of workers=10,000 Production of boots by each worker= 30 pairs per month…

Q: Use the table to answer the question:   Corn (lb) Scarves(#) U.S. 20 10 Mexico 25 5 What is the…

A: Opportunity costs represent the potential benefits a personal, investor, or business misses out on…

Q: Consider a society consisting only of Helen, who allocates her time between sewing dresses and…

A: After sewing machine is introduced, total [32 x (8/4)] = 64 dresses can be produced in 8 hours.

Q: Mya and Donovan produce two goods in an 8 hour day. Mya can produce 10 capital or 55 consumables and…

A: According to question data represent the productivity table for the Mya and Donovan in 8 hours a day…

Q: Firm X have 1200 labor, to producer one unit Cheese its required 5 unit labor and to produce one…

A: 1. With 1200 units of labor, the firm X can produce either : 1200/5 units of Cheese, or 1200/10…

Q: What is the opportunity cost of moving from point I to point D? Explain.

A: The maximum output of two items utilizing a fixed amount of input is measured by a production…

Q: You plan to travel in Europe this summer. If you do, you won't be able to take your usual summer job…

A: Answer: Introduction:  Opportunity cost refers to the cost of the next best alternative forgone to…

Q: Suppose a nation has a total of 12 units of labor, which can be used to produce either guns or…

A:

Q: Country B grows both roses and apples. The following graphs shows the production possibilities…

A: Production Possibility Frontier  Possibility of manufacture The Production Possibility Curve is…

Q: ased on the graph, what is the opportunity cost of moving from point B to point D? Baseballs 200 150…

A: Opportunity cost measures how much we have to sacrifice one resource in order to get additional of…

Q: Suppose that Paulie and Vinny each can produce ice cream or t-shirts. The table shows the quantity…

A: opportunity cost is the forgone benefit that would have been derived from an option not chosen. To…

Q: Make a graph using the  information in the table below: ITEM A B C D E Pretzels 0 300 450 600 700…

A: By using the table, we form production possibility curve which shows the two possible combinations…

Q: 1. Discuss the idea of an opportunity cost and think of three opportunity costs that you have made…

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…

Q: Poornima is a skilled toy maker who is able to produce both boats and kites. She has 8 hours a day…

A: The production possibility curve (PPC) is a diagram that shows the entirety of the various bundle…

Q: If a country (say the UK) has 900 units of labour available, can produce two goods (cars and PCs)…

A: Opportunity cost is defined as the foregone benefit that would have been derived from an option not…

Q: production possibility curve shows the possible combination of two goods with utilization of…

A: A country has to choose which goods they produce because of the scarcity of resources. The scarcity…

Q: LaTonya can make 4 cakes or 10 pies in one day working at the bakery. Tom can make, 8 cakes or 33…

A: Opportunity cost refers to the economic measure that is used to determine or compute the trade-off…

Q: What’s the difference between trade off and opportunity costs

A: As we know that human wants are limited but means to satisfy these wants are limited. A person has…

Q: Elaborate on your opportunity costs, if you decide to stop studying now and start working.

A: Opportunity cost is the next best alternative foregone.

Q: The opportunity cost of moving from point E to point B in the picture is what ?

A: The principle of comparative advantage is developed by David Ricardo and according to this concept,…

Q: You have 3 attempts remaining. The table below shows various combinations of amounts of fish and…

A: The opportunity cost is the second-best alternative which is foregone in order to select the best…

Q: mya and donovan produce two goods in an 8 hour day.Mya can produce 10 capital or 55 consumables and…

A: The opportunity cost of capital refers to the cost by which a person gets to choose between two or…

Q: Suppose a nation has a total of 12 units of labor, which can be used to produce either guns or…

A: Production possibility curve is a graphical representation which shows possible combinations of two…

Q: If a country can produce more of a good than other countries with a given amount of resources, we…

A: Absolute and comparative advantage are too very important concepts of International trade as they…

Q: Suppose that there are 10 million workers in Canada and that each of these workers can produce…

A: Opportunity Cost is the cost of foregone alternative. Opportunity Cost = What one Sacrifices / What…

Q: The table below shows various combinations of amounts of fish and corn that can be produced…

A: An opportunity cost can be understood as the loss of the second-best alternative in order to select…

Q: If the production of computers increases from point P to point S, what is the opportunity cost in…

A: Opportunity cost is the loss of potential increase from different options when one option is picked.

Q: England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 50…

A: The engagement of a nation in a more open international trade increase the well-being of a nation in…

Q: Consider the table below to answer the next two questions. Quantity of X Quantity of Y 0 800 1…

A: 1. The opportunity cost is the value of the next best alternative which is foregone while making the…

Q: Does an increase in the opportunity cost mean that you have to give up more to obtain something…

A: The benefit which is forgone that would, in turn, had been derived through an option not being…

Q: Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour.…

A: Opportunity cost is nothing but the cost of the next best alternative or the amount sacrificed to…

Q: Suppose there are a million workers in France. Each worker can product 2 cars or 40 bushels wheat.…

A: Opportunity cost (OC) is defined as the next best forgone alternative. It is the lost benefit that…

Q: Use the table to answer the question:   Corn (lb) Scarves (#) U.S. 20 10 Mexico 25 5 What is the…

A: Opportunity cost is here is the amount of the other good foregone for producing one unit of a good.…