Plot the PPF graph with no curved lines Concept Introduction: Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs .

Question

2-6 Suppose County A and B produce only paper and cars. Country A can produce 8 tons of paper or 4 million cars yearly. Country B can produce 25 tons of paper or 5 million cars yearly. 1. Draw the production possibilities frontier for each country. 2. Both countries want 2 million cars each year and as much paper as they can produce along with 2 million cars. Find this point on each production possibilities frontier and label it “X1.”

Answer 1

Question

Chapter 2, Problem 3.5P

A

To determine

Plot the PPF graph with no curved lines

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

B

To determine

The cost of producing an additional car when 50 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

C

To determine

The cost of producing an additional car when 150 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

D

To determine

The cost of producing an additional washing machine when 50 cars are being produced and in case 150 are cars being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

D

To determine

What is derived about the concept of opportunity cost from the above answers.

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

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2-6 Suppose County A and B produce only paper and cars. Country A can produce 8 tons of paper or 4 million cars yearly. Country B can produce 25 tons of paper or 5 million cars yearly. 1. Draw the production possibilities frontier for each country. 2. Both countries want 2 million cars each year and as much paper as they can produce along with 2 million cars. Find this point on each production possibilities frontier and label it “X1.”

2-2b Suppose that Canada produces only lumber and fish. It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish daily. 4. What is the opportunity cost of producing 1 foot of lumber? 5. Use your graph to determine how many fish can be caught if 60 million feet of lumber are cut.

Question 1 a: Use a production possibilities frontier to describe the idea of trade-off. b: Accumulation of capital and change in technology bring economic growth, which means that the PPF keeps shifting outward: Production that was unattainable yesterday becomes attainable today; production that is unattainable today will become attainable tomorrow. Why doesn’t this process of economic growth mean that scarcity is being defeated and will one day be gone? (Word count: 150 words max.)

Answer 2

Question

Chapter 2, Problem 3.5P

A

To determine

Plot the PPF graph with no curved lines

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

B

To determine

The cost of producing an additional car when 50 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

C

To determine

The cost of producing an additional car when 150 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

D

To determine

The cost of producing an additional washing machine when 50 cars are being produced and in case 150 are cars being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

D

To determine

What is derived about the concept of opportunity cost from the above answers.

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Expert Solution & Answer

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Answer 3

Question

Chapter 2, Problem 3.5P

A

To determine

Plot the PPF graph with no curved lines

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

B

To determine

The cost of producing an additional car when 50 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

C

To determine

The cost of producing an additional car when 150 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

D

To determine

The cost of producing an additional washing machine when 50 cars are being produced and in case 150 are cars being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

D

To determine

What is derived about the concept of opportunity cost from the above answers.

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Expert Solution & Answer

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Answer 4

Question

Chapter 2, Problem 3.5P

A

To determine

Plot the PPF graph with no curved lines

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

B

To determine

The cost of producing an additional car when 50 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

C

To determine

The cost of producing an additional car when 150 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

D

To determine

The cost of producing an additional washing machine when 50 cars are being produced and in case 150 are cars being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

D

To determine

What is derived about the concept of opportunity cost from the above answers.

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Expert Solution & Answer

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Answer 5

Chapter 2, Problem 3.5P

A

To determine

Plot the PPF graph with no curved lines

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

B

To determine

The cost of producing an additional car when 50 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

C

To determine

The cost of producing an additional car when 150 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

D

To determine

The cost of producing an additional washing machine when 50 cars are being produced and in case 150 are cars being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

D

To determine

What is derived about the concept of opportunity cost from the above answers.

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Answer 6

Chapter 2, Problem 3.5P

A

To determine

Plot the PPF graph with no curved lines

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Answer 7

Chapter 2, Problem 3.5P

A

To determine

Plot the PPF graph with no curved lines

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Answer 8

B

To determine

The cost of producing an additional car when 50 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Answer 9

B

To determine

The cost of producing an additional car when 50 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Answer 10

C

To determine

The cost of producing an additional car when 150 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Answer 11

C

To determine

The cost of producing an additional car when 150 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Answer 12

D

To determine

The cost of producing an additional washing machine when 50 cars are being produced and in case 150 are cars being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Answer 13

D

To determine

The cost of producing an additional washing machine when 50 cars are being produced and in case 150 are cars being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Answer 14

D

To determine

What is derived about the concept of opportunity cost from the above answers.

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Answer 15

D

To determine

What is derived about the concept of opportunity cost from the above answers.

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Answer 16

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Answer 27

Ch. 2 - Prob. 1.1P Ch. 2 - Prob. 1.2P Ch. 2 - Prob. 2.3P Ch. 2 - Prob. 2.4P Ch. 2 - Prob. 3.5P Ch. 2 - Prob. 3.6P Ch. 2 - Prob. 3.7P Ch. 2 - Prob. 3.8P Ch. 2 - Prob. 4.9P

Plot the PPF graph with no curved lines Concept Introduction: Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs .

Plot the PPF graph with no curved lines Concept Introduction: Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

The cost of producing an additional car when 50 cars are being produced Concept Introduction: Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

The cost of producing an additional car when 150 cars are being produced Concept Introduction: Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

The cost of producing an additional washing machine when 50 cars are being produced and in case 150 are cars being produced Concept Introduction: Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

What is derived about the concept of opportunity cost from the above answers. Concept Introduction: Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

Chapter 2 Solutions

Plot the PPF graph with no curved lines

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

The cost of producing an additional car when 50 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

The cost of producing an additional car when 150 cars are being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

The cost of producing an additional washing machine when 50 cars are being produced and in case 150 are cars being produced

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.

What is derived about the concept of opportunity cost from the above answers.

Concept Introduction:

Production productivity frontier: It is a curve which shows the maximum possible output of two goods with the given set of efficiently used inputs.