Explain why societies cannot make a choice above their production possibilities frontier with own resources and should not make a choice below it.
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- The diagram below shows a society's production possibility frontier for coffee mugs and calculators. Use this information to answer this question. The opportunity cost of producing an additional coffee mug would be lowest at: Calculators O O A. D OB. A OCB ODC D O A Coffee mugs OC BWhat is Production Possibility Frontier? Draw and explain a production possibilities frontier for an economy that produces milk and cookies. What happens to this frontier if disease kills half of the economy’s cow population?give an example of economic problem involving opportunity cost that SA government is curretly facing 3define a production possibility curve and use such a curve to illustrate scarcity,choice and opportunity cost
- Which one of the following concepts is illustrated by a production possibilities frontier? Select one: A. monetary exchange B. consumption C. profit D. investment O E. the tradeoff between producing one good versus anotherPoint A B C D E Production chocolate bars 0 10 20 30 40 Production cans of cola 100 90 70 40 0 The above table shows production points on Sweet - Tooth Land's production possibilities frontier. Which of the following is an example of a point that is inefficient? A. 0 chocolate bars and 100 cans of cola OB. 38 chocolate bars and 0 cans of cola OC. 32 chocolate bars and 40 cans of cola OD. 20 chocolate bars and 80 cans of cola MEEDIexplain na link between scarcity and opportunity cost
- After Hurricane Katrina devastated parts of Mississippi and New Orleans in 2005, we can be sure that the production possibilities frontier for that area temporarily?Based on the production possibility curve represented below, calculate the opportunity cost of moving from combination A to B. 700 Production Possibility Frontier A 6000 500 Health Care 400 300 200 100 OD E B C 050 100 150 200 250 300 Travel O A. 200 healthcare services OB 175 traveling services OC. 200 traveling services OD 75 healthcare servicesYou have exams in economics and chemistry coming up and 5 hours available for studying. The following table shows the trade-offs you face in allocating the time you will spend in studying each subject. Hours Spent Studying Midterm Score Choice Economics Chemistry Economics Chemistry A 98 71 96 80 93 88 83 76 TEORET B C D F 54226 1 0 012345 86 90 92 94 Use the multipoint curve drawing tool to plot a production possibilities frontier showing the trade-off between your economics grade and chemistry grade. Plot all choices A through F. Properly label this curve. Carefully follow the instructions above, and only draw the required objects. After plotting the final point of your multipoint curve, press the Esc key or use a long press on the last point to end the line. 100 Score on economics exam 8 8 8 8 8 8 8 8 96- 94- 92- 90- 88 82- 80- 78- 764 71 73 75 77 79 81 83 85 87 89 91 93 95 97 Score on chemistry exam 4