Consider the diagram depicting the tradeoff faced by the Mars colony in production of spaceships or habitats. Suppose that the colony is currently producing nothing but spaceships. It is decided, however, that spaceship production should be reduced by one unit so that some habitats may be produced. How many habitats can then be produced if one spaceshift is foregone? 15 14 13 12 11 10 PPE 9 8 7 6 5 4 3 2 1 Habitats 0 1 2 3 (3,8) 4 (4, 6) 5 6 7 Spacecraft 8 9

Consider the diagram depicting the tradeoff faced by the Mars colony in production of spaceships or habitats. Suppose that the colony is currently producing nothing but spaceships. It is decided, however, that spaceship production should be reduced by one unit so that some habitats may be produced. How many habitats can then be produced if one spaceshift is foregone? 15 14 13 12 11 10 PPE 9 8 7 6 5 4 3 2 1 Habitats 0 1 2 3 (3,8) 4 (4, 6) 5 6 7 Spacecraft 8 9

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 11RQ: What does a production possibilities frontier illustrate?

See similar textbooks

Similar questions

What is comparative advantage?
What is absolute advantage? What is comparative advantage?
The table below presents production schedule of apples and bananas in the country of mistania - assume that these are the only two goods that Mistania produces. Each row represents a specific set of apples and bananas that Mistania could produce. Suppose Mistania was currently at Senario C, producing 10 bananas and 80 apples. According to the data in this table, if Mistania wanted to produc 1 more banana, how many fewer apples will it need to produce? Scenario Bananas Apples A 0 100 B 5 90 C 10 80 D 15 70 E 20 60
Consider the graph. 0 12345678 9 10 Widgets What best explains the shape of the production possibility frontier in the graph? According to the graph of the production possibilities frontier, what is the opportunity cost of the seventh widget? O about 7 widgets O About 1 gizmo O about 2 widgets about 5 gizmos What best explains the shape of the production possibility frontier in the graph? Producers can move from one point to another on the production possibilities frontier in response to consumers' demands. O The production of widgets and gizmos require the same resources to produce. O Some resources used to produce one of the goods are not as productive when they are used to produce the other good. O This economy has the capacity to produce different combinations of widgets and gizmos.
Consider two neighboring island countries called Euphoria and Contente. They each have 4 million labor hours available per week that they can use to produce rye, jeans, or a combination of both. The following table shows the amount of rye or jeans that can be produced using 1 hour of labor. Country Rye Jeans (Bushels per hour of labor) (Pairs per hour of labor) Euphoria 5 20 Contente 8 16 Initially, suppose Contente uses 1 million hours of labor per week to produce rye and 3 million hours per week to produce jeans, while Euphoria uses 3 million hours of labor per week to produce rye and 1 million hours per week to produce jeans. Consequently, Euphoria produces 15 million bushels of rye and 20 million pairs of jeans, and Contente produces 8 million bushels of rye and 48 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of rye and jeans…
Consider two neighboring island countries called Euphoria and Contente. They each have 4 million labor hours available per month that they can use to produce rye, jeans, or a combination of both. The following table shows the amount of rye or jeans that can be produced using 1 hour of labor. Rye Jeans Country (Bushels per hour of labor) (Pairs per hour of labor) Euphoria 5 20 Contente 8 16 Initially, suppose Contente uses 1 million hours of labor per month to produce rye and 3 million hours per month to produce jeans, while Euphoria uses 3 million hours of labor per month to produce rye and 1 million hours per month to produce jeans. Consequently, Euphoria produces 15 million bushels of rye and 20 million pairs of jeans, and Contente produces 8 million bushels of rye and 48 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of rye and jeans it produces. of jeans,…
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
Consider two neighboring island countries called Dolorium and Contente. They each have 4 million labor hours available per week that they can use to produce rye, jeans, or a combination of both. The following table shows the amount of rye or jeans that can be produced using 1 hour of labor. Country Rye Jeans (Bushels per hour of labor) (Pairs per hour of labor) Dolorium 5 20 Contente 8 16 Initially, suppose Contente uses 1 million hours of labor per week to produce rye and 3 million hours per week to produce jeans, while Dolorium uses 3 million hours of labor per week to produce rye and 1 million hours per week to produce jeans. Consequently, Dolorium produces 15 million bushels of rye and 20 million pairs of jeans, and Contente produces 8 million bushels of rye and 48 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of rye and jeans…
Chile's Production Possibilities Frontier Colombia's Production Possibilities Frontier ↑soydeans TEx pounds) ↑ soydeans 20 (in pounds) 18 18 16 16 14 14 12 12 10 10 6 4- +%> 16 18 20 coffee (in pounds 2 4 8 10 12 14 2 4 6 8 10 12 14 16 18 20 coffee spunod ng) Refer to Figure 3-8. If the production possibilities frontiers shown are each for one day of production, then which of the following combinations of pounds of coffee and pounds of soybeans could Chile and Colombia together not make in a given day? O a. 4 pounds of coffee and 17 pounds of soybeans O b. 8 pounds of coffee and 14 pounds of soybeans O . 16 pounds of coffee and 9 pounds of soybeans O d. 24 pounds of coffee and 3 pounds of soybeans
EX LO d @ Safari File Edit View History Bookmarks Window Help Lily ✓ My Home Courses Rental Options V Catalog and Study Tools Dashboard College Success Tips Help Career Success Tips Give Feedback « 100 CENGAGE MINDTAP PISTACHIOS (Millions of pounds) 48 42 36 Homework (Ch 03) The following graphs show the production possibilities frontiers (PPFS) for Shenandoah and Denali. Both countries produce peas and pistachios, each initially (i.e., before specialization and trade) producing 18 million pounds of peas and 9 million pounds of pistachios, as indicated by the grey stars marked with the letter A. 30 24 18 PPF 12 6 0 0 C Mind Tap - Cengage Learning 6 S Shenandoah A 12 18 24 30 PEAS (Millions of pounds) 36 42 48 ? JAN 28 PISTACHIOS (Millions of pounds) 48 42 36 30 24 6 C MindTap - Cengage Learning 0 ng.cengage.com PPF 6 Denali A 12 18 24 30 36 PEAS (Millions of pounds) 42 48 Shenandoah has a comparative advantage in the production of while Denali has a comparative advantage in the…
Consider two neighboring island countries called Felicidad and Contente. They each have 4 million labor hours available per week that they can use to produce jeans, rye, or a combination of both. The following table shows the amount of jeans or rye that can be produced using 1 hour of labor. Country Jeans Rye (Pairs per hour of labor) (Bushels per hour of labor) Felicidad 5 20 Contente 8 16 Initially, suppose Contente uses 1 million hours of labor per week to produce jeans and 3 million hours per week to produce rye, while Felicidad uses 3 million hours of labor per week to produce jeans and 1 million hours per week to produce rye. Consequently, Felicidad produces 15 million pairs of jeans and 20 million bushels of rye, and Contente produces 8 million pairs of jeans and 48 million bushels of rye. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of jeans and…
Dreamliners per period 18 16 12 8 4 8 dreamliners A 0 4 8 B QUESTION 15 Production levels to the right of the PPF are: O attainable efficient O inefficient. Ounattainable 12 Production possibility frontier E : F H ● The graph shows the PPF for Aeroland. Given the graph above, what is the opportunity cost of increasing Dreamliner production from 8 dream liners (point E) to 16 Dreamliners (point B)? O12 small jets O18 small jets O 6 small jets 16 18 20 Small jets per period