Use the graph below to answer questions 7 through 10. Can Openers 14,000 12,000 Cs 10,000 8,000 6,000 PIF 4,000 PEF 2,000 5 6 7 8 Drill Presses 2 3 4 1 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 0 can openers and 7 drill presses. 7. а. b drill presses. ffccnt C. d. On PPF1, the opportunity cost of the 7th drill press is approximately 4,000 can openers. 8. 8,000 d. 6,000 b. 2,000 C. а. An increase from PPF1 to PPF2 makes it possible to produce approximately additional can openers if 7 drill presses are 9. produced. 5,000 d. 7,000 4,000 b. 2,000 C. а. 10. All of the following events would lead to a shift from PPF1 to PPF2 except: 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 а. b. C. d. productive workforce

Use the graph below to answer questions 7 through 10. Can Openers 14,000 12,000 Cs 10,000 8,000 6,000 PIF 4,000 PEF 2,000 5 6 7 8 Drill Presses 2 3 4 1 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 0 can openers and 7 drill presses. 7. а. b drill presses. ffccnt C. d. On PPF1, the opportunity cost of the 7th drill press is approximately 4,000 can openers. 8. 8,000 d. 6,000 b. 2,000 C. а. An increase from PPF1 to PPF2 makes it possible to produce approximately additional can openers if 7 drill presses are 9. produced. 5,000 d. 7,000 4,000 b. 2,000 C. а. 10. All of the following events would lead to a shift from PPF1 to PPF2 except: 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 а. b. C. d. productive workforce

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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