9. The following data show the combinations of output of cars and co computers. TIT Combination Computers Cars 3000 2200 600 2000 1000 700 D 900 E 1000 a) Draw a production possibilities frontier (PPF) for computers and cars output. Keep the cars on X-axis. (Graph should be properly labelled) b) Briefly explain why it most likely has a bowed-out shape. e) Show a point of output that is certainly impossible for the society to achieve. Show a point on production possibility frontier that is achievable but inefficient, d) Show graphically the impact on PPF of technology advancement in the form of assembly line of cars production (Graph should be properly labelled) Show graphically the impact on PPF of the newly discovered input used inputs for both cars e) and computers.
9. The following data show the combinations of output of cars and co computers. TIT Combination Computers Cars 3000 2200 600 2000 1000 700 D 900 E 1000 a) Draw a production possibilities frontier (PPF) for computers and cars output. Keep the cars on X-axis. (Graph should be properly labelled) b) Briefly explain why it most likely has a bowed-out shape. e) Show a point of output that is certainly impossible for the society to achieve. Show a point on production possibility frontier that is achievable but inefficient, d) Show graphically the impact on PPF of technology advancement in the form of assembly line of cars production (Graph should be properly labelled) Show graphically the impact on PPF of the newly discovered input used inputs for both cars e) and computers.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter1: Welcome To Economics!
Section: Chapter Questions
Problem 12RQ: What is the difference between microeconomics and macroeconomics?
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