Microeconomics
2nd Edition
ISBN: 9781259813337
Author: KARLAN, Dean S., Morduch, Jonathan
Publisher: Mcgraw-hill Education,
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Question
Chapter 2, Problem 1PA
To determine
(a)
To draw: Sam's
To determine
(b)
To draw the PPF if 4 more hours are given to Sam.
To determine
(c)
To draw: the PPF if 4 more hours are given to Sam and her friend helps her in making melon slices.
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Suppose 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?
Currently Microland produces fewer cars and trucks than it can efficiently produce. We can illustrate the situation by drawing a point where Microland is ________ its production possibilities frontier for cars and trucks.
Select one:
a.
on
b.
at the origin of
c.
outside
d.
inside
What is a production possibilities frontier? How can we show efficiency on a productions possibilities frontier? How can we show inefficiency? What causes a production possibilities frontier to shift outward?
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