Draw a PPF for butter and guns production. a.  Explain verbally and graphically the concept of “free lunch.” b. Explain verbally and graphically what movement between two production points on the PPF represents. Does this qualify as “a free lunch?” Why or why not?

Graphically show William's production possibilities frontier. Debate should be on the vertical axis.     Label four points on the graph: (A) a point inside the PPF; (B) a point on the PPF where debate is more valued than studying; (C) a point on the PPF where studying is more valued than debate; (D) a point outside the PPF.     Explain the effects of an economy at point A   Explain the effects of an economy at point B   Explain the effects of an economy at point C   Explain the effects of an economy at point at point D (assume that nothing in our economy changes)   Does our PPF experience the law of increasing opportunity cost? How do we know? Under what conditions can we have a linear PPF rather than a "bowed-out" PPF? Sketch a PPF that experiences increasing opportunity cost and a PPF that experiences constant opportunity cost.

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Macmillan Learning The accompanying graph shows the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses. The PPF shows the quantities of rubber band balls and rubber hoses Rubberland can produce in one day. Point A represents the combination of the two goods Rubberland currently produces. When a new method of rubber processing is discovered, the productivity of all Rubberland's inputs increases. Shift the PPF to show this change. Assume that Rubberland does not make more rubber band balls than it originally made at point A but still maximizes its output. Move point A to the new combination of the two goods. How many more rubber hoses does Rubberland now produce per day than before? Quantity of rubber band balls 200 180 160 140 120 100 Rubberland's Production Possibilities A 80 60 40 642 20 PPF 0 0 10 30 20 40 50 60 70 Quantity of rubber hoses 80 90 100 80 20 more hoses per day

Suppose that country A and country B start trading; 1 unit of cotton is exchanged with 1 unit of wheat. Draw the trade line into their PPF.

based on the image and the PPF is point b efficient? why?

Use the PPF to answer the following questions:   (a) At point F, how many sweaters are being produced? How many hard drives? (b) Label points A-H as either efficient, inefficient, or unattainable. (c) Can we determine if point F is productively efficient? If so, is it productively efficient? (d) Can we determine if point F is allocatively efficient? If so, is it allocatively efficient?

If Sport Country currently produces 100 bats and 400 rackets, what is the opportunity cost of an additional 100 bats? rackets. (only provide numbers, no alphabets or special characters). If Sport Country currently produces 300 bats and 300 rackets, what is the opportunity cost of an additional 100 bats? rackets. (only provide numbers, no alphabets or special characters). Suppose Sport Country currently produces 200 bats and 200 rackets. How many additional rackets could they produce without giving up any bats? rackets. (only provide numbers, no alphabets or special characters).

Suppose an economy uses two resouces (labor and capital) to produce two goods (wheat and cloth). Capital is relatively more useful in producing cloth, and labor is relatively more useful in producing wheat.  If the supply of capital falls by 10 persent and the supply of labor increases by 10 percent, how will the PPF for wheat and cloth change?