Suppose Becky is currently using combination D, producing one picture frame per day. Her opportunity cost of per day. Now, suppose Becky is currently using combination C, producing two picture frames per day. Her opportunity per day. From the previous analysis, you can determine that as Becky increases her production of picture frames, her o Suppose Becky buys a new tool that enables her to produce twice as many picture frames per hour as before, but points (triangle symbol) to plot her new PPF on the previous graph. Because she can now make more picture frames per hour, Becky's opportunity cost of producing pillows is
Suppose Becky is currently using combination D, producing one picture frame per day. Her opportunity cost of per day. Now, suppose Becky is currently using combination C, producing two picture frames per day. Her opportunity per day. From the previous analysis, you can determine that as Becky increases her production of picture frames, her o Suppose Becky buys a new tool that enables her to produce twice as many picture frames per hour as before, but points (triangle symbol) to plot her new PPF on the previous graph. Because she can now make more picture frames per hour, Becky's opportunity cost of producing pillows is
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?
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Becky is a talented artist who sells hand-crafted goods on her website. Becky currently crafts and sells both picture frames and pillows. She spends 8 hours a day working on crafts. The following table gives different daily output scenarios depending on how much of her time is spent on each good.
Transcribed Image Text:CENGAGE MINDTAP
Module One Quiz
Q Search this course
|ıl.
Suppose Becky is currently using combination D, producing one picture frame per day. Her opportunity cost of pro
per day.
Now, suppose Becky is currently using combination C, producing two picture frames per day. Her opportunity cost
per day.
From the previous analysis, you can determine that as Becky increases her production of picture frames, her oppor
Suppose Becky buys a new tool that enables her to produce twice as many picture frames per hour as before, but it do
points (triangle symbol) to plot her new PPF on the previous graph.
Because she can now make more picture frames per hour, Becky's opportunity cost of producing pillows is
Transcribed Image Text:PILLOWS
Module One Quiz
A
B
Choice (Picture frames)
C
D
E
30
25
20
15
CENGAGE MINDTAP
10
5
0
Hours Crafting
0
1
8
6
4
2
0
2
(Pillows)
0
2
3
4
6
8
in the following graph, use the blue points (circle symbol) to plot Becky's initial production possibilities frontier (PPF).
5
PICTURE FRAMES
(Picture frames)
4
4
3
2
1
0
Produced
6
7
Q Search this course
(Pillows)
0
10
8
16
19
20
O
Initial PPF
New PPF
ılı
?
i X
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