A point inside the production possibilities frontier isa. efficient but not feasible.b. feasible but not efficient.c. both efficient and feasible.d. neither efficient nor feasible
Q: (h) sugar industry is a subject matter of micro economics. Give reason. (i) what do you mean by…
A: Microeconomics deals with the behavior of firms and individuals in making decisions regarding the…
Q: Which one of these resources is a non-renewable natural resource? Select one: a. A Wooden House b.…
A: Non-renewable natural resources are the resources that are found in the ground. These resources are…
Q: Assume efficient production. Lagertha can spend her time either fishing or forging swords. She has…
A: The economic faces three economic problems, namely: (i) Human wants are unlimited (ii) Resources to…
Q: A point inside a production possibilities frontier?
A: Production Possibility Frontier: It refers to the graphical representation of various possible…
Q: a. Compute the opportunity cost in forgone consumer goods (millions of pounds of butter) for each…
A: We need to calculate the opportunity cost in forgone consumer goods for each additional unit of…
Q: 1. Define the Following A. Economics B. Factors of Production C. Scarcity
A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: Draw and explain a production possibility frontier for an economy that produces milk and cookies.…
A: Production possibility frontier: Production possibility frontier is the curve that shows the various…
Q: Question 18 Figure 4: Production possibilities frontier candes 45 40 35 30 25 20 15 10 6 S 10 12 14…
A: The economy has the ability to produce at which points.
Q: Draw a production possibility frontier showing the trade-off between the production of apples and…
A: Meaning of Production Possibility Frontier: The term production possibility frontier refers to the…
Q: In advanced technology and capital goods are encouraged. Select one: o a. Market Economic System O…
A: In an economy, technological advancement and capital goods are the drivers of economic growth…
Q: Between a straight line PPF and concave PPF, which one is more realistic? Why? Defend your answer.
A: Straight line PPF means that the opportunity cost remains same at all points whereas a concave…
Q: 1. Economics can be defined as the study of how people choose to allocate __________ to satisfy…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Nabia Pada 15 10 Corn Corn (units) 10 (units) 60 24 30 Wheat Wheat (units) (units) In Exhibit above,…
A: The production possibility curve shows the combination of two goods that can be produced with the…
Q: Caln be allocated in the production of either good freely, but the other factor is specific. For…
A: Labor: It refers to the people who work at the lower level in the factory or in the firm. The labor…
Q: Graphing: Using the Production Possibilities Schedule above, make a Production Possibilities…
A: Production Possibility Frontier is the graphical representation of two goods that an economy can…
Q: The possible combinations of two goods that can be produced in a certain period of time under…
A: The Variation in the production of two goods in the specific time period is illustrated by the…
Q: The individual production points on each person's production possibilities frontier represent their…
A: Production possibility curve is used to represent the maximum amount of output that an individual…
Q: Graphing: Using the Production Possibilities Schedule above, make a Production Possibilities…
A: "In economics a production possibility frontier represents the different combination of the two…
Q: 2. Bangladesh Production The following production possibilities table data represent the amount of…
A: Given production possibilities schedules Points/options T-shirts Shorts A 80,000 0 B 60,000…
Q: What does a production possibilities frontier represent? Explain how you would use it to make…
A: The production possibilities frontier (PPF) is the producer's side concept which is the…
Q: a.Discusses the principles of individual decision making with examples b.Explain with your own…
A: a. To understand how decisions are made and how these decisions affect use of resources. We must…
Q: 6.On a production possibilities frontier, produ ction is efficient if the production point is…
A: A production possibility frontier shows the combinations of two goods that can be produced by using…
Q: gallon of root beer is__________ , and Valerie's opportunity cost of brewing a gallon of root…
A: Poornima's opportunity cost of brewing a gallon of root beer is - 0.6 hours to make a pizza.…
Q: Production at a point inside the production possibilities frontier is unattainable and inefficient…
A: A production possibilities curve shows the various combinations of two goods that an economy can…
Q: In the production process, both the average product and marginal product of the variable- input rise…
A: The statement that "In the In the production process both the average product and marginal product…
Q: 3. Opportunity Cost Cho and Ginny are roommates. They spend most of their time studying (of course),…
A:
Q: A curve that shows the maximum amount of any two products that can be produced in an economy from a…
A: In economics, the problem of scarcity which is universal in nature is studied and addressed. Because…
Q: 24, A point on the production possibilities frontier reflects an a attainable point with full…
A: Representation of all the different combinations of goods that can be produced within an economy by…
Q: Please help. Screen shoot attqached
A: In the production possibility frontier (PPF) graph, points located in the below PPF curve is…
Q: Using your own words, describe the law of increasing opportunity costs. Be sure to explain why this…
A: Opportunity cost is the given-up quantities of one good for the additional unit of the other…
Q: Which of the following indifference curve the slope of the production possibilities frontire? A,…
A: The production possibility curve, abbreviated as PPC, depicts various combinations of products that…
Q: A person makes sandwiches at home for five hours each day. She makes 20 sandwiches per hour, and…
A: Opportunity cost refers to the cost of the next best alternative that is required to be sacrificed…
Q: Scarcity is Select one: A. a problem; developing economies only. O B. not a problem; rich…
A: In economics scarcity means that resources are limited to fulfill individual demands. Each country…
Q: ing inefficiently? the available resources and technology? resources and technol OE and F C and D A…
A: DISCLAIMER “Since you have asked multiple question, we will solve the first three subpart for you.…
Q: 250 A 225 D 200 B 175 150 125 100 75 E 50 25 20 40 60 80 100 Oil Drills the PPF shown in the figure…
A: Production possibility frontier represents the varying amount of two goods when they depends on the…
Q: The quantities shown are taken from a production possibilities frontier for an economy with…
A: Answer - Need to find- The blank in the table could be which value Given in the question- The…
Q: A small bakery makes baguettes and muffins. With the resources available (workers, flour, machines)…
A: A small bakery makes baguettes and muffins. With the available given resources, this bakery can…
Q: 1.Table 1: Points X Y A 1200 В 100 900 C 200 600 300 300 E 400 0 Please put your answer in the…
A: Slope = y2-y1/x2-x1 Point A = (x1, y1) = (0, 1200) Point B = (x2, y2) = (100, 900) Slope =…
Q: a) Draw a production possibilities curve (PP1). Label the horizontal axis Tools and the vertical…
A: Meaning of Production Possibility Frontier: The term production possibility frontier refers to the…
Q: Types of Production A В E Capital Goods 10 20 30 40 Consumer Goods 75 68 54 47 What is the…
A: Opportunity cost (generally) is the cost of availing one opportunity in terms of loss of other…
Q: Suppose a society is producing capital and consumer goods. Draw production possibilities frontier…
A: The production possibility frontier (PPF) is a curve that depicts the variations in the quantities…
Q: Combinations Rice Shoe A 50 0 B 45 1 C 37 2 D 27 3 E 15 4 F 0…
A: Answer: (C). Opportunity cost refers to the units of a good sacrificed in order to increase the…
Q: 1. A factual claim about how the world actually works a. is a positive statement. b. cannot be…
A: Hey, Thank you for the question. According to our policy we can only answer upto 3 MCQs per session.…
Q: 1.a. i. Using an appropriate diagram, explain how the production possibility frontier becomes a…
A: Production possibility frontier: Production possibility frontier or the abbreviated form PPF is the…
Q: Define Production Possibility Frontier. Draw a production possibilities frontier showing increasing…
A: The production possibility frontier (PPF) shows the combination of two goods and services which can…
Q: The production possibilities frontier curves show the concepts of scarcity, choice, opportunity…
A: A Production Possibility Frontier or PPF refers to choices that society makes by combination of…
Q: A production possibility frontier corn. The farmer can grow 80 bushels of soybeans or 160 bushels of…
A: In business analysis, the production possibility frontier (PPF) is a curve that illustrates the…
Q: The technically efficient combination of two products a busniness can produce in the current period…
A: Production is the process by which goods and products are made or manufactured from raw materials or…
Q: QUESTION TWO UT OF FOUR Given the Production Possibility Frontier below, Pencils Explain the meaning…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
A point inside the production possibilities frontier is
a. efficient but not feasible.
b. feasible but not efficient.
c. both efficient and feasible.
d. neither efficient nor feasible
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images
- Under which of the following circumstances a Production Possibility Curve will move to the right? a. Economic resources increased b. Both; economic resources increase and new technolgy develop New technology is developed d. None of these given options C.Consider a Production Possibility Frontier that bows outward. Suppose the production of one good increases. As a result opportunity cost of producing this good will __________ because productive resources ___________________ in their suitability for producing different kinds of goods. A. increase; differ B. decrease; are the same C. increase; are the same D. decrease; differ20. Points on the production possibility curve are a. Unattainable and efficient b. Attainable and efficient c. Inefficient and unattainable d. Attainable but inefficient
- An economy's production possibilities frontier is fixed in the long run. True FalseA production possibilities curve that is a straight line represents the case of Group of answer A. choices constantcosts. B. constant opportunity costs but increasing real costs. C. constant opportunity costs but decreasing real costs. D. increasingCosts.Good B .d b a Good A Refer to Exhibit 2.2, which shows the production possibilities frontier for Good A and Good B. If given the quantity of resources and level of technology, which of the following points is unattainable? O a. g O b. h O c. e O d. i O e. b
- The quantities shown are taken from a production possibilities frontier for an economy with diminishing returns. The blank in the table could be which value? Bags Courses 40 300 60 ? 80 100X 2.1-8 The unattainable points in a production possibilities diagram are O A. the points within the production possibilities frontier. B. the points along the production possibilities frontier. C. the points of the horizontal and vertical intercepts. D. the points outside the production possibilities frontier.A point lying inside (under) a production possibilities frontier indicates that _________.A. the economy is saving money.B. There are no associated opportunity costs.C. more output could be produced with existing resources.D. technology limits production.
- Every point on the production possibilities curve represents? a. a greater increase in supply b. an efficient use of rescources c. an inefficient use of resources d. a greater increase in demandOSA Moving from point B to D Good Y A O A. ii only OB. i and ii C O C. i only O D. i, ii and iii B D i. Economic growth takes place ii. The production technique for producing good Y remains the same iii. More of both goods can be produced Good XUtopia produces only two products: cheese and wine. The production levels are shown in the table below. Cheese % inputs Ø 20 48 60 80 108 output 0 60 100 130 150 160 A 0 % inputs 0 20 40 B 60 80 100 a. From this data, complete Utopia's production possibilities table below. Possibility Cheese Wine Wine с output 0 80 140 190 210 220 D b. Utopia (Click to select) c. If Utopia is at D. the total cost of 20 more cheese is d. If Utopia is at D. the total cost of 50 more wine is E produce 130 cheese and 190 wine. wine. cheese. F 0 A