4,800 3,600 1,900 10,00 20,00 30,00 40,00 50,00 Butter

Use the graph to answer the following question: Plant R and Plant S both produce radios and calculators. Which of the following statements is most true?  A) Plant R has the comparative advantage to produce radios but not calculators.  B) Plant R has the comparative advantage to produce both goods.  C) Plant S has the comparative advantage to produce radios but not calculators.  D) Plant S has the absolute advantage to produce both calculators and radios.

Suppose Russia produces only cars and trucks. The resources that are used in the production of these two goods are not specialized—that is, the same set of resources is equally useful in producing both trucks and cars.   The shape of Russia's production possibilities frontier (PPF) should reflect the fact that as Russia produces more trucks and fewer cars, the opportunity cost of producing each additional truck _______?   The following graphs show two possible PPFs for Russia's economy: a straight-line PPF (PPF1PPF1) and a bowed-out PPF (PPF2PPF2). Based on the previous description, the trade-off Russia faces between producing trucks and cars is best represented by _____?

Suppose the economy initially produces 15,000 gallons of drinking water and 450,000 tons of steel, which is represented by point A. The opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving production to point B) is (72,000, 135,000, 90,000, 54,000, 108,000) tons of steelSuppose, instead, that the economy currently produces 378,000 tons of steel and 20,000 gallons of drinking water, which is represented by point B. Now the opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving to point C) is  (72,000, 135,000, 90,000, 54,000, 108,000)   ons of steel.Comparing your answers in the two previous paragraphs, you can see that the opportunity cost of 5,000 additional gallons of drinking water at point B is (Less, Equal, Or Greater Than) the opportunity cost of 5,000 additional gallons of drinking water at point A. This reflects the (Notion that Countries can gain from trade, Law of Increasing Opportunity Costs, Fact…

3. Country A and Country B are two countries that each produce t-shirts (T) and sneakers (S). From its available resources and technology Country A can produce 100 t-shirts and 0 sneakers or 0 tshirts and 200 sneakers or any combination of t-shirts and sneakers that sits on Country A’s linear PPF. From its available resources and technology Country B can produce 50 t-shirts and 0 sneaker or 0 t-shirt and 50 sneakers or any combination of t-shirts and sneakers that sits on Country B’s linear PPF. a. On two separate graphs draw the PPF for Country A and Country B. Measure t-shirts on the vertical axis and sneakers on the horizontal axis. b. Write an equation in slope-intercept form for the PPF for Country A. c. Write an equation in slope-intercept form for the PPF for Country B

1)What does the law of increasing opportunity cost?2) Does the law of increasing opportunity cost apply for the Production Possibilities Frontier in the case of Rabbits and Berries?3) If the opportunity cost of Rabbits with respect to Berries (and/or vice versa) was constant, what would the PPF look like?

4. a. Suppose that you are on a deserted island and can produce either 32 tons of coconuts OR 16 tons of pineapples. Draw the PPF representing this situation. Assume that coconuts are on the x-axis. Also assume that the PPF is linear. Clearly label your graph. b. For each of the following combinations say whether they are attainable (feasible) or unattainable (infeasible), based on the above information. If they are feasible, say whether they are efficient or inefficient. Also, label the three points on the graph above. (i) 8 tons of coconuts and 12 tons of pineapples: (ii) 16 tons of coconuts and 3 tons of pineapples:

Figure 1 shows the PPF for an economy that produces Food and Clothes. Suppose the economy is currently producing 170 Food and 264 Clothes. What is the economy's opportunity cost of producing 150 additional Food?     A) 90 Clothes       B) 120 Clothes       C) 170 Clothes       D) 220 Clothes

Question 16 Homework • Unanswered Suppose that in the country of England, two goods can be produced on available agricultural land: wine and wool. Suppose that the opportunity costs of production are constant, so that the PPF is a straight line. Further, when all resources are devoted to wine production, England can produce 200 (thousand) barrels. When all resources are devoted to wool production, England can produce 400 (thousand) bushels of wool. What are the opportunity costs in England of producing a barrel of wine? Type your numeric answer and submit

through 6. Elapsed time (in minutes) 30 60 90 120 150 Total utility of playing video games 20 45 63 78 83 Answer here 1 Total utility of swimming 40 22666 72 76 76 Jenny spends an average of $3 each hour she plays video games. What is her marginal utility per dollar for the second half hour?