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A: Answer: A production possibilities curve shows the different combinations of two goods that can be…
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A: Answer: Introduction: Production possibility frontier (PPF): It is a graph that shows the possible…
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A: Correct : reflects output assuming the full use of society's resources
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Would an increase in productivity as a result of a new technology shift a
production possibilities frontier inward or outward?
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- If new government regulations designed to protect wetlands remove very productive farmland from production, then the production possibilities frontier will shift inward. a. True b. FalseTo what can concave shape of Production Possibilities Frontier be due?Select one:a. Law of diminishing returns.b. Existence of an opportunity cost.c. Scarcity.d. Efficiency in production.e. Inflation of a market.Need help with this homework thinking question (about opportunity costs) Sigmund Freud, in his 1930 essay Civilization and Its Discontents, argues that thesublimation of sexual desire leads to the mental energy required for advances in civiliza-tion: science, art, politics, etc. He writes,“Sublimation of instinct [such as sexual instinct] is an especially conspicu-ous feature of cultural development; it is what makes it possible for higherpsychical activities, scientific, artistic, or ideological, to play such an impor-tant part in civilized life... it is impossible to overlook the extent to whichcivilization is built up upon a renunciation of instinct...” How would an economist phrase Freud’s argument, in terms of opportunity costs? Might this explain the development of monogamous marriage as an institution?
- Explain the usefulness of a Production Possibilities Frontier and how it could be applied to an example to support an economic argumentSuppose a production possibilities frontier includes the following combinations: Cars Washing Machines 0 1,000 100 600 200 0 What is the cost of producing an additional car when 50 cars are being produced? What is the cost of producing an additional car when 150 cars are being produced?how does technology affect the production possibility frontier/curve?
- The opportunity cost on a Production Possibilities Frontier in moving from one point to another can be calculated by taking the Sacrifice, and dividing it by the Gain. Select one: True FalseAny point on a country's production possibilities frontier represents a combination of two goods that an economy: Select one: a. may be able to produce in the future with more resources and/or superior technology. b. can produce using some portion, but not all, of its resources and technology c. can produce using all available resources and technology. d. will never be able to produce.A. What is the opportunity cost to produce the first 10 Saturn Rings? B. What is the opportunity cost to produce the last 10 Saturn Rings? C. Given your answer, is there increasing or constant opportunity costs in the production of Saturn Rings? D. When this production possibilities frontier is graphed, will it be a straight line or a curved one?