hello, can you please help me answering questions 8,10, and 12 in the image? 6 / 8110%+YY.YYPPF3DePPF2FPPFG(1)(2)(3).(4)Butter7. In the preceding figure, which graph depicts a technological breakthroughin the production of good X only?11. If PPF , in the above graph is the relevant production possibilities frontier,then which points are unattainable? Explain your answer.28. In the preceding figure, which graph depicts a change in the PPF that is alikely consequence of war?9. In the preceding figure, which graph depicts expansion of resources thatcan be used in both "X" and "Y" quantitatively and qualitatively?12. If PPF, in the above figure is the relevant production possibilities frontier,then which point(s) represent productive efficiency? Explain your answer.10. In the preceding figure, which graph depicts an improvement in theavailability of skilled manpower and technology in the production of “Y"?WGPEB3Guns

Production possibility frontier (PPF) curve shows different possible combination of two goods that…

Y Y. Y (1) (2) (3) (4) 7. In the preceding figure, which graph depicts a technological breakthrough in the production of good X only? 8. In the preceding figure, which graph depicts a change in the PPF that is a likely consequence of war?

Y Y. Y (1) (2) (3) (4) 7. In the preceding figure, which graph depicts a technological breakthrough in the production of good X only? 8. In the preceding figure, which graph depicts a change in the PPF that is a likely consequence of war?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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20 Which of the following is a use of the production possibility curve (PPC) in macroeconomics? a. Private income of a company is calculated on the basis of PPC b. The company decides to produce product A or B c. The economy finds solution to basic economic problems d. The company decides the price of the product using PPC
If, next year, the production possibilities curve passes through point W on which point on this year’s production possibility curve (PPC) is it not possible for the economy to be operating? A) 100,144 B) 175,0 C) 80,144 D) 0,210
A nation with fixed quantities of resources is able to produce any of the following combinations of bread and ovens:Bread (tons) Oven (000’s)60 050 1240 2230 3020 3610 40 0 42These figures assume that a certain number of previously produced ovens are available in the current period for baking bread.a. Using data in the table, graph the ppf (with ovens on the vertical axis)b. What happens to the opportunity cost of bread – measured in number of ovens—as bread production increases from 0 to 10 tons, from 10 to 20 tons, from 20 to 30 tons, and so on?c. If this country chooses to produce both bread and ovens, what will happen to the ppf over time? Why? Select one:a. Remains stagnant b. Decline over time towards inefficiencyc. Increase over time and declined. Increase over time towards growth
Assume an economy producing only two goods (shoes and computers) with a fixed amount of productive resources and technology and employing all its productive resources to the maximum. The maximum output combinations of both goods are given in the table below: Combination Shoes Computers Shoes Computers A 0 1000 B 100 900 C 200 750 D 300 550 E 400 300 F 500 0 iv. How many computers could society produce if it was willing to do without shoes? v. Why are points outside the frontier unattainable? vi. Identify three ways by which the economy can attain the level of production outside the PPF. vii. What happens to the PPF when technological change overwhelmingly favours the production…
The Marope Economy has the capacity to produce the goods and services that are outlined in Table 1 below. You are required to:a. Draw a Production Possibility Frontier (PPF) and list all efficient points of production.b. Marope Economy wishes to produce 520 billion units of consumer goods. Plot this output onthe Frontier and state whether this is an efficient point or not.Table 1 – Production Possibilities Output (billions of units per year) Consumer goods Consumer servicesPart BA B480 420 0 120C D240 0 240 300 Use graphs to demonstrate how the following factors will change the PPF.a. A decrease in migrationb. An increase in natural resourcesc. Changes in technology
Alice and Bob each produce haircuts and landscaping services. Alice can provide 4 haircuts in one hour. Bob can provide 2 haircuts in one hour. It takes Alice 2 hours to landscape an acre of property. It takes Bob 1 hour to landscape an acre of property. Assume Alice and Bob both work a standard 8 hour day. Which of the following correctly expresses the equation for Alice's PPF H=-32+8L H=16-2L H+8L=32 2H+L=16
A nation with fixed quantities of resources is able to produce any of the following combinations of carpet and carpet looms: Yards of Carpets Carpet Looms (Millions) (Thousands) 0 50 10 40 22 28 34 19 46 8 60 0 These figures assume that a certain number of previously produced looms are available in the current period for producing carpet. Using data in the table, graph the ppf (with carpet on the vertical axis) What happens to the opportunity cost of carpets measured in number of looms—as carpet production increases from 0 to 10 Million yards, from 10 to 22 Million yards, from…
Suppose the economy initially produces 15,000 gallons of drinking water and 450,000 tons of steel, which is represented by point A. The opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving production to point B) is (72,000, 135,000, 90,000, 54,000, 108,000) tons of steelSuppose, instead, that the economy currently produces 378,000 tons of steel and 20,000 gallons of drinking water, which is represented by point B. Now the opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving to point C) is (72,000, 135,000, 90,000, 54,000, 108,000) ons of steel.Comparing your answers in the two previous paragraphs, you can see that the opportunity cost of 5,000 additional gallons of drinking water at point B is (Less, Equal, Or Greater Than) the opportunity cost of 5,000 additional gallons of drinking water at point A. This reflects the (Notion that Countries can gain from trade, Law of Increasing Opportunity Costs, Fact…
The economy consists of two people–Ragnar and Lagertha. Each has 10 hours in a day to allocate between producing swords or fishing. In one hour Lagertha can produce 10 fish or 2 swords. In one hour, Ragnar can produce 9 fish or 4 swords. Suppose they produce jointly and assume efficient production. If the economy is producing 110 fish, how many swords is it producing? Enter a number only.
Juanita and Neha are considering contributing toward the creation of a water fountain. Each can choose whether to contribute $300 to the water fountain or to keep that $300 for a weekend getaway. Since a water fountain is a public good, both Juanita and Neha will benefit from any contributions made by the other person. Specifically, every dollar that either one of them contributes will bring each of them $0.70 of benefit. For example, if both Juanita and Neha choose to contribute, then a total of $600 would be contributed to the water fountain. So, Juanita and Neha would each receive $420 of benefit from the water fountain, and their combined benefit would be $840. This is shown in the upper left cell of the first table. Since a weekend getaway is a private good, if Juanita chooses to spend $300 on a weekend getaway, Juanita would get $300 of benefit from the weekend getaway and Neha wouldn't receive any benefit from Juanita's choice. If Juanita still spends $300 on a weekend getaway…
63. A farmer can produce 10,000 pears if he uses the whole of his one-acre farmland. If he uses the same land for apple cultivation, a total of 5,000 apples can be produced. However, he decides to produce both, and the opportunity cost of producing either fruit is constant. If his production possibility frontier (PPF) is graphed with apples on the Y-axis and pears on the X-axis, what will be the slope of this PPF?
04. Which of the following statements about point C is TRUE? a) production of both X and Y can increase, without more resources or improvement in technology. b) to produce more of product Y, some of product X has to be sacrificed. c) the economy cannot reach this point without an increase in resources or improvement in technology. d) the economy is producing efficiently. e) both (a) and (d) are correct.