the opportunity cost of computers when moving from point A to point B? DVDs b. What is the opportunity cost of computers when moving from point B to point C? DVDs c. What is the opportunity cost of computers when moving from point C to point D? DVDs d. What is the opportunity cost of computers when moving from point D to point E? DVDs e. As we produce more computers, opportunity costs are (Click to select) #
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- What does a production possibilities frontier illustrate?Construct a Production Possibilities Curve in Excel based on the following Production possibilities Schedule: Missiles Milk (millions of gallons) 0 4010 34 20 2730 1940 1050 0 What is the "shape" or the "slope" of the frontier or curve? Calculate the opportunity cost of producing the "first" batch of 10 missiles. Calculate the opportunity cost of producing the "last" batch of 10 missiles. What would it mean if the economy was operating at the frontier? What would happen to the frontier if the production technology improves?Define Production Possibility Frontier. Draw a production possibilities frontier showing increasing opportunity cost for sausages and. kebabs a. On a graph, identify the area of feasible outcomes and the area of infeasible outcomes. b. On a graph, illustrate the effect of the discovery of an oven, a resource needed to make both sausages and kebabs, on this economy. c. On a second graph, illustrate the effect of a new computerized assembly line in the production of sausages on this economy.
- 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 100Vistakon makes Acuvue TruEye and Acuvue Moist contact lenses. The following is Vistakon’s production possibilities frontier (PPF) for the two kinds of contact lenses. Use the graph to answer the questions below. If Vistakon is currently producing 2.5 billion Acuvue TruEye and 1.5 billion Acuvue Moist contact lenses per year, is it using its available resources efficiently or not? Why or why not? What is Vistakon’s opportunity cost of increasing Acuvue TruEye production from 1.5 billion to 2.5 billion lenses per year (in terms of Acuvue Moist contact lenses)? What will happen to the given Vistakon’s PPF if new technology facilitates production of Acuvue TruEye contact lenses? Show graphically (upload graphs below). What will happen to the given Vistakon’s PPF if materials for producing both kinds of contact lenses become more easily available and cheaper? Show graphically (upload graphs below).Sketch a plausible production possibility frontier that shows in general various combinations of wheat and potatoes a farmer can produce with the fixed amount of resources available to him? Label your diagram well for example your axesbut you dont have to use any specifc number
- Orange(tons) Apple(tons)A 1400 0B 1100 450C 900 900D 600 1200E 250 1600F 0 2000a. Plot the production possibilities curve for the production of orange and apple. Put orange on the horizontal axis. b. What is the opportunity cost of increasing the production of orange from 0 to 250? From 900 to 1100? c. Given this production possibilities curve, is producing 900 orange and 1200 apple possible? d. Is producing 250 orange and 1200 apple? Is it efficient? 2) What is the connection between elasticity and total revenue? 3) State whether each of the following events will result in a movement along the demand curve for Burger King’s Cheeseburger or whether it will cause the curve to shift. If the demand curve shifts, indicate whether it will shift to the left or the right and draw a graph to illustrate the shift.Explaina) The price of McDonald’s Big Mac hamburger decreases.b) Because of a shortage of…Use the information in the table to answer the below questions. Production Possibilities Frontier Points Number of Bagels Number of Shirts A 15,000 0 B 14,000 100 C 12,000 200 D 9,000 300 E 5,000 400 F 0 500 What must be done in order to produce a combination of 12,000 bagels and 400 shirts?Table 3-8 Production Possibilities Blankets Coats 8 600 12 ? 16 200 Refer to Table 3-8. If the production possibilities frontier is a straight line, then which of the following could represent the number of coats produced when 12 blankets are produced? a. 200 b. 500 c. 300 d. 400
- DATA RESPONSE QUESTION ON PRODUCTION POSSIBILITY FRONTER (PPF) Consider the following data for the harvest of pineapples versus the harvest of mangoes in Jamaica. JAMAICA’S FARM POSSIBILITIES PINEAPPLES MANGOES A 100 0 B 90 15 C 70 30 D 40 45 E 0 60 a. Graph the production possibility frontier (PPF) placing pineapples on the X axis and mangoes on the Y axis. b. On PPF curve drawn, identify the following points: a. Unattainable (label the point U) b. Attainable and efficient (label the point AE) c. Attainable and inefficient (label the point AI) c. What does the shape of the PPF curve drawn suggest about the opportunity cost of producing ONE more unit of pineapples or mangoes d. If mangoes harvesting increases from 15 to 30, what is the opportunity cost of harvesting pineapples? e. What is the economic significance of choosing to harvest at 25 pineapples and 50 mangoes? f. Explain the effect of a hurricane on…DATA RESPONSE QUESTION ON PRODUCTION POSSIBILITY FRONTER (PPF) Consider the following data for the harvest of pineapples versus the harvest of mangoes in Jamaica. JAMAICA’S FARM POSSIBILITIES PINEAPPLES MANGOES A 100 0 B 90 15 C 70 30 D 40 45 E 0 60 a. Graph the production possibility frontier (PPF) placing pineapples on the X axis and mangoes on the Y axis. b. On PPF curve drawn, identify the following points: a. Unattainable (label the point U) b. Attainable and efficient (label the point AE) c. Attainable and inefficient (label the point AI) c. What does the shape of the PPF curve drawn suggest about the opportunity cost of producing ONE more unit of pineapples or mangoes d. If mangoes harvesting increases from 15 to 30, what is the opportunity cost of harvesting pineapples? e. What is the economic significance of choosing to harvest at 25 pineapples and 50 mangoes? f. Explain the effect of a hurricane on…Practice Question 8: Resubmitted Table 1 James Lucy Wagons 16 18 Tricycles 32 24 Table 1 shows the output per week of two people, James and Lucy. They can either devote their time to making wagons or making tricycles. What is Lucy's opportunity cost of making a wagon? Group of answer choices 1. 1 1/3 tricycles 2. 2 tricycles 3. 3/4 of a wagon 4. 3 wagons