se the following Production Possibilities Graph to explain the concepts of scarcity, choice, and opportunity cost and how they relate to decision making. Be sure to specify how the PPF graph inllustrates each concept and include numerical values. T 20 18 26 14 12 Guns (Protective Goods) vs Butter (Consumer Goods) (In billions of metric tons)

se the following Production Possibilities Graph to explain the concepts of scarcity, choice, and opportunity cost and how they relate to decision making. Be sure to specify how the PPF graph inllustrates each concept and include numerical values. T 20 18 26 14 12 Guns (Protective Goods) vs Butter (Consumer Goods) (In billions of metric tons)

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter2: Economic Tools And Economic Systems

Section: Chapter Questions

Problem 3.5P

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Use the following Production Possibilities Graph to explain the concepts of scarcity, choice, and opportunity cost and how they relate to decision making. Be sure to specify how the PPF graph inllustrates each concept and include numerical values. Butter | 3 25 == 05 15 10 == 1.5 0.0 1.6 Guns 0 2 3 4 Butter 20 12 ● 20 18 16 14 12 4 2 0 Guns (Protective Goods) vs Butter (Consumer Goods) (In billions of metric tons) 1 2 Guns 3
use the following scenario to answer the following quation : an economy has a two workers smith and ricardo. each day theywork .smith can produce 4 computers and 16 smartephone. and ricardo can producce 6 computers and 12 smartphones. (1) the opppertunity cost for smith to produce one computer is ......... smart phones. (a) one quater of (b) one half of (c) one (d) two (e) four
Brother i need these graphs to be more detailed please sir at least the PPF one
The table shows Yucatan's production possibities, Food (pounds per month) Food (pounds per month) 200 Sunscreen (gallons per month) and 200 100 and 400 50 and 600 and 800 150- Draw the four points defined in the table. Use the four-point line tool to draw the PPF. Label it. 100 100 IH Yucatan produces 100 pounds of food per month, it must produce 400 galions of sunscreen to achieve production efficiency 50 The opportunity cost of 1 pound of food isegallons of le00 400 Sunscreen (galons per month) le00 sunscreen 200 1000 The opportunity cost of 1 gallon of sunscroen isO pounds of food. > Answer to 2 decmal places. » Draw only the objects specified in the question
Lithium Batteries Gas Engines 0 100 25 80 40 65 60 40 70 15 80 0 Please draw a PPF curve for the table to the right with labels
The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing and steel. The black points (plus symbols) represent three possible output levels in a given month. Point A is at (500, 12); B is at (420, 16) and C is at (300, 20). CLOTHING (Millions of pieces) 32 28 24 20 16 12 8 V 0 PPF 100 200 15 B+ +> 300 400 500 STEEL (Millions of tons) 600 700 800 Suppose the economy initially produces 12 million pieces of clothing and 500 million tons of steel, which is represented by point A. The opportunity cost of producing an additional 4 million pieces of clothing (that is, moving production to point B) is [Select] tons of steel. Suppose, instead, that the economy currently produces 420 million tons of steel and 16 million pieces of clothing, which is represented by point B. Now the opportunity cost of producing an additional 4 million pieces of clothing (that is, moving to point C) is [Select] tons of steel. Comparing your answers in the two…
Suppose earlier they used to decide half of their in producing Apple pies and remaining half in producing Cupcakes. Now they have decided to "specialize" in accordance to their comparative advantages. Then in a work week that consists of 5 work days, the output of Apple pies and cupcakes will increase by the amount of b C Quantity of Apple Pies d 100 40 PPFDavid Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. 30 Apple pies and 100 Cupcakes respectively 200 Quantity of Cupcakes 200 Apple pies and 350 Cupcakes respectively PPFAlexis 150 Apple ples and 500 Cupcakes respectively 400 250 Apple pies and 100 Cupcakes respectively
Use the diagram below to answer the question. Facemask 1200 1000 800 600 400 200 A 0 A PPF 32 200 400 600 800 1000 1200 Ventilator Hospitaland produces and consumes two goods, facemasks and ventilators, by using two inputs, labor and capital. The production possibilities frontier of Hospitaland is shown above. . Under autarky (in absence of trade), Hospitaland produces and consumes a combination of facemasks and ventilators at Point A. At Point A, a relative price of ventilator (Pventilator/Pfacemask) is (Answer up to the first decimal place: e.g. 12.3)
250 A 225 200 175 150 125 100 75 E 50 25 20 40 60 80 100 Oil Drills On the PPF shown in the figure above, which points represent inefficient production points? Select one: a. points C and E b. points D and A c. points B and D d. points A and E Solar Panels
Table 1: Production Capacity of COVID-FREE LAND.Toilet Rolls Sanitizers30,000 028,000 1,00024,000 2,00018,000 3,00010,000 4,0000 5,000Use information in Table 1 above to answer the following questions: In your own words, while making use of the graph that you have created in part a, explain what the PPF is. Cleary state all assumptionsand properties of the PPF.
Chapter 03 Homework BASIL (Millions of pounds) 48 42 BASIL (Millions of pounds) 36 30 24 18 12 6 0 48 42 36 30 24 The following graph shows the same PPF for Congaree as before, as well as its initial consumption at point A. 12 PPF 06 As you did for Glacier, place a black point (plus symbol) on the following graph to indicate Congaree's consumption after trade. (?) 18 PPF 6 0 0 12 6 O True O False 11 18 24 30 CORN (Millions of pounds) 12 Congaree A ☆ + 36 I I 18 30 CORN (Millions of pounds) 24 42 36 48 42 Consumption After Trade 48 Consumption After Trade True or False: Without engaging in International trade, Glacier and Congaree would not have been able to consume at the after-trade consumption bundles. (Hint: Base this question on the answers you previously entered on this page.)
Check my Below is a production possibilities table for consumer goods (automobiles) and capital goods (forkifts) Production Alternatives Type of production Automobiles Forklifts 20 27 21 12 a. Show these data graphically Instructions: 1. Use the drawing tool (PPC, plot 5 points totel) to draw e PPC curve. 2. Once all points have been plotted, click on the line (not individual points) end a tool icon will pop up. You can use this to enter exact co-ordinates for your points es needed.