Illustrate and explain with a diagram of a production possibility curve, the following; - Opportunity cost - Unattainable output level - Underutilization of resource
Q: An ourward shift of the production possibility frontier maybe caused by: A. An increase in demand…
A: The production possibility curve is one of the measures used to understand the producer’s trade-off…
Q: The following hypothetical production possibilities tables are for China and the United States.…
A: China can produce either 120,000 units of Apparel or 120 tons of chemicals US can produce either…
Q: Discuss how the production possibility frontier model can be used to illustrate the basic economic…
A: Production possibility curve is defined as a curve which indicates various combination of two goods…
Q: Figure: Production Possibility Frontler Curve for Tealand Scones (millons) 25 20 C 15 10 10 20 30 40…
A: All points outside the production possibility frontier are unattainable. therefore, point E is also…
Q: suppose you ar etrying to determine the aftereffects of hurricane Katrina on the economy of…
A: To determine the after effects of hurricane Katrina on the economy of Louisiana, some assumptions…
Q: Table: Production Possibilities for the United States and Canada U.S. Production Possibilities One…
A: Absolute advantage means producing the good more efficiently ie higher output with same inputs.…
Q: Table 1: Production Capacity of COVID-FREE LAND.Toilet Rolls Sanitizers30,000 028,000 1,00024,000…
A: Production possibilities frontiers are used to represent the trade-off that occurs between the…
Q: Ind.1 100 600 300 Ind.2 400 200 700 Ind 3 50 350 50 Ind 4 250 150 25 Suppose we are given the…
A: “Since you have posted a question with multiple parts, we will solve only the first parts for you.…
Q: Production Possibilities Frontier for Coffee and Tea A В C Coffee 1 2 4 Tea 14 12 9. se the…
A: A production possibility frontier (PPF) shows the maximum possible output combinations of two goods…
Q: The following hypothetical production possibilities tables are for China and the United States.…
A: Disclaimer: Multipart question. The solution to the first three parts is provided.
Q: 06 England 80 70 60 50 40 PPF 30 20 10 10 20 30 40 50 60 cloth wine
A: Opportunity cost=sacrifice/gain =10/10=1
Q: Discuss this normative statement: “Governments should use targeted industry policy to assist…
A: YES, government should use targeted government support and policy to some industry and to achieve…
Q: Exhibit 2: The Production Possibility Frontier of an Economy Consumption Goods (C) C4 C34 C3 A2 A3…
A: The production possibilities curve (PPC) refers to a graph that depicts all of the possible output…
Q: Question 1 Using a production possibilities frontier (PPF) diagram, determine how does the PPF…
A: Since you have posted multiple questions, we solve the first one for you. If you want any specific…
Q: Quantity Picked in One Hour Pounds of Apples Pounds of Strawberries Jake 4. Jill 10 10 Suppose Jake…
A: Answer: It is given that currently, Jake can pick a maximum of 4 pounds of strawberries or 8 pounds…
Q: Consider the following data for the harvest of pineapples versus the harvest of mangoes in Jamaica.…
A: The production possibility frontier (PPF) shows the combination of two output which can be produced…
Q: Illustrate and explain with diagram of a production possibility curve, the following; - Opportunity…
A: The economics as a study is based upon the idea that the resources which are present with the…
Q: Production Possibility Curves For Idaho and lowa: Alfalfa and Corn Corn production in bushels per…
A: Absolute advantage refers to the ability of one producer who could produce output in greater…
Q: a. Suppose Big Country can produce 80 units of X by using all its resources to produce X or 60 units…
A: Opportunity cost refers to the cost of the next best foregone. In other words it is the cost of…
Q: Assume that Derryland and Whetonia each has 40 labor hours available and that there is no trade.…
A:
Q: Please help Screen shot attached
A: The production possibility frontier (PPF) is a curve on a graph that depicts the potential output of…
Q: Assume a Ricardian, constant-cost world. There are two countries, the United States and Canada. Each…
A: The Ricardian model implies that two nations produce two things using just one element of the…
Q: II. Graphing: Using the Total Production Frontier below, make a TPF graph with proper point and axis…
A: In the factor of production market, household is the supplier and the firms are the buyer.…
Q: 2. Assume a Ricardian, constant-cost world. There are two countries, the United Kingdom and France.…
A: Absolute advantage refers to the situation where one party can produce the same amount of goods and…
Q: Combinations Rice Shoe A 50 0 B 45…
A: Answer is given below
Q: inefficient use of resources may be illustrated with a production possibility curve as: A)…
A: # The correct answer is (C) PPF represents the bundle of goods that can be produced with the most…
Q: Carrots (in metric 128,520 214,200 282,744 334,152 359,856 385,560 tons) 97,825 Potato (in metric…
A: Production possibility frontier shows all the possible combinations of production bundles that…
Q: The following hypothetical production possibilities tables are for China and the United States.…
A:
Q: (Table) Based on the table, what is Canada's opportunity cost of making one airplane: Canada's…
A: The PPC of country C is denoting the various combinations of airplanes and steel that they can…
Q: Sketch a plausible production possibility frontier that shows in general various combinations of…
A: Answer to the question is as follows:
Q: The following hypothetical production possibilities tables are for China and the United States.…
A: * SOLUTION :- * From given data, (A) We observe that the constant opportunity cost for producing…
Q: Please help. Screen shoot attqached
A: In the production possibility frontier (PPF) graph, points located in the below PPF curve is…
Q: 7) An inefficient use of resources may be illustrated with a production possibility curve as: A) an…
A: Answer: Option C (a point inside the production possibility curve) Explanation: Any point inside the…
Q: a. Graph the production possibility frontier (PPF) placing pineapples on the X axis and mangoes on…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…
Q: Under which of the following circumstances a Production Possibility Curve will move to the right a.…
A: Production Possibility Curve shows the combination of goods that can be produced with the available…
Q: re given the following different technologies for producing 100 metres of cloth. 8 - D 4 B E 1 T T 1…
A: The correct answer is a. Technology B dominates technology D This is because at every level…
Q: A clothing accessory company produces scarves and earrings. Below are the production possibility…
A: Given Scarves (000 units) Earrings (000 units) 10 0 9 50 8 90 7 120 6 145 5 165 4…
Q: According to the News Wire, what is the opportunity cost of North Korea's rocket program in terms of…
A: Opportunity cost is the forgone benefits from next best alternative.
Q: Table 1: Production Capacity of COVID-FREE LAND.Toilet Rolls30,000 28,000 24,000 18,000 10,000…
A: Given: Toilet Rolls Sanitizers 30,000 0 28,000 1,000 24,000 2,000 18,000…
Q: 1 Someone has a comparative advantage in producing a good if they can produce that good ANSWERS a с…
A: The transfer of capital, technology, goods, and services between nations is referred to as…
Q: Table 1: Production Capacity of COVID-FREE LAND. Use information in Table 1 above to answer the…
A: Production possibility frontier shows the different combination of two goods that produced by using…
Q: Assume a Ricardian, constant-cost world. There are two countries, the United States and Canada. Each…
A: International trade refers to the exchange of goods and services between two or more nations for…
Q: Alpha Beta Production Possibilities Production Possibilities D B 4 C Product A Product A 3 B 2 D 1 X…
A: Opportunity cost refers to decrease in number of units of other good needed to increase output by…
Q: Explain Production possibility frontier with an example and give explanation on why it is…
A: Meaning of Production Possibility Frontier: The term production possibility frontier refers to the…
Q: Country JKL has a maximum of 50 labour(hours). The tab shows maximum quantity of wheat and cotton…
A: Production possibility curve shows combinations of the output of two goods that are being produced…
Q: A steel bar manufacturer business can make 15000 bar a week. It is determined that to achieve this…
A: Cost of production refers to all expenses a company incurs when producing a good or providing a…
Illustrate and explain with a diagram of a production possibility curve, the following;
-
- Unattainable output level
- Underutilization of resources
with APA format(references)
words count:400-550
Step by step
Solved in 2 steps with 1 images
- Given the following diagram of a production possibilities frontier for a country. Assume that this country produces only two types of goods, capital goods (K) and consumer goods (C). (Graph is not drawn to scale.) CAPITAL GOODS (K) LACO,250) B(409200) c C200, ISo) D (300, l00) E(GO0,0) CONSUMER 600as (C) e. Suppose that there is a technological improvement in producing consumer goods that results in twice as many units of consumer goods being produced from the available resources in this economy. Draw the new production possibility frontier for this economy given this change. Assume that there are no changes in technology with regard to capital good production.Given the following diagram of a production possibilities frontier for a country. Assume that this country produces only two types of goods, capital goods (K) and consumer goods (C). (Graph is not drawn to scale.) CAPITAL GOODS(K) LACO,250) B(109 200) C C200, ISo) D(30, l00) E(GO0,0) CONSUMER 6000S (C) c. What is the opportunity cost of producing 1 more unit of capital goods if this economy is currently producing at point C?(Essay) Illustrate and explain with diagram of a production possibility curve, the following; - Opportunity cost - Unattainable output level - Underutilization of resources
- Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can produce 7,523 units of Food or 17,853 units of Fuel using a labour force of 8000. Japan can produce 5,733 units of Food or 24,156 units of Fuel using a labour force of 5000. (d) Which country has the comparative advantage in food? In fuel? Explain. (e) Which good(s) should each country specialize in?Short Answer (8.0score) 33. The chart below is the prodution cost of US. and UK. U.S. U.K. Wheat (bushels/labor hour) 6 1 Cloth (yards/labor hour) 4 2 question: (1) explain the comparative advantage of each nation; (2) what is the gain from trade if the two trade for 4 wheat for 4 cloth?From the following table indicate which commodities the US should export to England. Explain! US UKWheat (Bushels/Labor Hour) 9.0 4.8Cloth (Yards/Labor Hour) 4.5 2.4
- Combination Cinnamon metric tons (X axis) Nutmeg metric tons (Y axis) A 7,000 0 B 6,000 7,000 C 4,500 11,000 D 2,500 14,000 E 0 16,000 What is the opportunity cost (amount & item) of the first 7,000 tons of nutmeg produced? ______________________ What is the opportunity cost (amount & item) of increasing production from 7,000 tons of nutmeg to 11,000 tons of nutmeg ? ________________ What is the opportunity cost (amount & item )of increasing production from 11,000 tons of nutmeg to 14,000 tons of nutmeg ? _____________ What is the opportunity cost (amount & item) of increasing production from 14,000 tons of nutmeg to 16,000 tons of nutmeg ? ________________ What is happening to the opportunity cost as Copperton produces more nutmeg? ____________________________________QUESTION 12 wine 90 80 70 60 50- 40 30 20 10 PPF 104 0 Portugal CPF 0 10 20 30 40 50 60 cloth K wine 88288988 90 80 70 60 50 40 30 20 10 0 England PPF CPF L 0 10 20 30 40 50 60 cloth 12. If Portugal has a total of 90 man-hours of resources available for production, while England has only 30, what are the resource costs of wine and cloth? a) wine costs 1/2 man-hours/bottle and cloth costs 1/2 man-hours/yard in England. O b) wine costs 1 man-hour/bottle and cloth costs 1 man-hour/yard in England. O c) cloth costs 1 man-hours/yard and wine costs 1 man-hours/bottle in Portugal. O d) wine costs 1/2 yards/bottle and cloth costs 2 bottles/yard in Portugal.QUESTION 12 wine 90 80 70 60 50- 40 30 20 10 PPF 104 0 Portugal CPF 0 10 20 30 40 50 60 cloth K wine 88288988 90 80 70 60 50 40 30 20 10 0 England PPF CPF L 0 10 20 30 40 50 60 cloth 12. If Portugal has a total of 90 man-hours of resources available for production, while England has only 30, what are the resource costs of wine and cloth? a) wine costs 1/2 man-hours/bottle and cloth costs 1/2 man-hours/yard in England. O b) wine costs 1 man-hour/bottle and cloth costs 1 man-hourlyard in England. O c) cloth costs 1 man-hours/yard and wine costs 1 man-hours/bottle in Portugal. O d) wine costs 1/2 yards/bottle and cloth costs 2 bottles/yard in Portugal.
- Table 1: Production Capacity of COVID-FREE LAND.Toilet Rolls 30,000 28,000 24,000 18,000 10,000 0Sanitizers 0 1,000 2,000 3,000 4,000 5,000Use information in Table 1 above to answer the following questions:a. Using the above figures, graph the production possibilities Frontier (PPF) of COVID_FREELAND (Hint! Use Microsoft Excel, for accuracy)b. In your own words, while making use of the graph that you have created in part a, explain what the PPF is. Cleary state all assumptions and properties of the PPF. c. Normally, the people of COVID-FREE LAND demand of 3,000 sanitizers and 18,000 toilet rolls. Suddenly, there is an outbreak of COVID- 19 and the demand for sanitizers and toilet rolls has increased to 4,000 and 20,000, respectively. How would COVID-FREE LAND meet its new demand. Identify and comprehensively discuss at least three possibilities or ways. State all appropriate assumptions made.What is the opportunity cost of increasing missle production fromm 50 to 100?Problem 19-03 (algo) The following hypothetical production possibilities tables are for China and the United States. Assume that before specialization and trade the optimal product mix for China is alternative D and for the United States is alternative S. China Production Possibilities ok Product A B D E F Apparel 80,000 64,000 int Chemicals (tons) 0 32 48,000 64 32,000 96 16,000 128 160 rences Product Apparel Chemicals (tons) U.S. Production Possibilities R 240,000 0 S T 192,000 144,000 48 96 U 96,0000 144 W 48,000 0 192 240 Instructions: Enter your answers as whole numbers. a. Are comparative-cost conditions such that the two countries should specialize? Yes If so what product should each produce?