Q: Please graph two hypothetical production possibilities models. In one of the graphs, please…
A: Meaning of Production Possibility Frontier: The term production possibility frontier refers to the…
Q: The various combination of goods that can be produced in any economy when it uses its available…
A: The various combination of the goods that can be produced in an economy certain when the available…
Q: Why is a production possibilities frontier typically drawn as a curve, rather than a straight line?
A: Production Possibility Curve represents different combinations of good (or services) that can be…
Q: If the resources used to produce two goods are specialized, then the production possibilities…
A:
Q: Suppose in 2019 to promote food production, the Federal Government of Australia provided high…
A: The production possibility curve is used to analyze the market using supply-side factors. It…
Q: Discuss any five factors that may cause production possibility frontier (PPF) curve to shift.
A: In economics, the PPF or the production possibility curve is a locus that shows the feasible…
Q: shift the production possibilities curve from PP2 to PP3 shift the production possibilitles curve…
A: The production possibility frontier would result in the maximum output that can be produced with the…
Q: What does the shape of the PPF curve drawn suggest about the opportunity cost of producing ONE more…
A: A production possibility curve is a graph that depicts the many combinations of two items that can…
Q: Which of the following is a normative macroeconomics statement? The rise in gasoline price had an…
A: There are two kinds of economics which direct the decision making in the economy. 1. Positive…
Q: A point which lies under the PPF curve represents what kind of combination of goods?
A: #We know that the production possibility curve contains all the bundles or combination of goods…
Q: Which of the following would cause an outward shift of the production possibilities frontier?
A: The production possibility frontier represents the different combinations of two goods that can be…
Q: D. Assume this economy experienced recession due to a pandemic that caused massive unemployment.…
A: Given, Combination G F E D C B A Potato (in thousand MT) 105 99 90 75…
Q: If the production possibilities frontier can be expressed as 4X2+y2=16, then the point X=√3; Y+2 is…
A: Given, PPF: 4X2+ Y2 = 16 X = √3, Y = 2
Q: Which of the following is a normative statement * If a sin tax is imposed on cigarettes and…
A: Normative economics deals with subjective judgements . It tells you how the situation "should be "…
Q: 1. Discuss any five factors that may cause production possibility frontier (PPF) curve to shift. 2.…
A: Since you have posted multiple questions, we will solve the first question for you. If you want any…
Q: The following graph shows the production possibilities curve (also known as the production…
A: Production possibility curve is the curve which shows all possible combinations of two goods which a…
Q: The production possibilities frontier (PPF) illustrates the concept of scarcity
A: According to the given question In simple words we can say that Scarcity is considered an actually…
Q: Production at a point inside the production possibilities frontier is unattainable and inefficient…
A: A production possibilities curve shows the various combinations of two goods that an economy can…
Q: Scarcity is represented on the production possibilities frontier by the amount of the good on the…
A: Scarcity is represented on a production possibility frontier graph by the fact that there are…
Q: Consider an economy which uses all its resources to produce national security and consumer goods.…
A: Answer: Introduction: PPF (production possibility frontier): It refers to the curve that shows all…
Q: Construct a PPC curve
A: Answer to the question is as follows :
Q: If the production possibilities frontier curve is linear and downward-sloping instead of bowed out,…
A: The production possibility frontier (PPF) is a diagramatical illustration of an economic model that…
Q: Draw a Production Possibilities Frontier curve for an economy that produces milk and cookies. What…
A: A production–possibility frontier (PPF), production possibility curve (PPC), production possibility…
Q: You are looking at a graph of the Production Possibilities Frontier (PPF). Points which are located…
A: PPF (Production possibilities frontier) is the locus of combinations of two goods, which a nation…
Q: Explain how the shape of the production-possibility frontier implies increasing costs for the…
A: Points Clothing Food A 16 0 B 15 2 C 13 4 D 10 6 E 6 8 F 0 10
Q: The figure above shows a country's production possibility frontier (PPFA). B A PPFA PPF The…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: In an economy, production takes place only on PPC Is this statement true?
A: The combination of goods and services which are lying on the production possibility curve represents…
Q: production possibilities frontier can shift outward if Select one: a. government increases the…
A: PPF shows the different considerations of two goods that can be produced using the all inputs and…
Q: Which of the following results in an outward shift in the Production Possibility Frontier? *…
A: The Production Possibility Frontier is the locus point of all the different combinations of the two…
Q: possibilities frontier. Debate should be on the vertical axis. Label four points on the graph:…
A: PPF shows all the points which can be produced using the combination of 2 goods with given resources…
Q: Explaining the Production Possibilities Curve or PPF Explain the attainable and unattainable
A: The production possibility frontier or curve is locus of combinations of the two goods that can be…
Q: Ron can either workout or make sushi rolls. It takes him 40 minutes to finish 1 workout and 20…
A: Preference: - Complete Workout -Make Sushi roll Time taken to complete workout = 40 minutes Time…
Q: Which of the following is a use of the production possibility curve (PPC) in macroeconomics? a. The…
A: Definition: The production possibilities curve in economics measures the maximum output of two goods…
Q: ncy takes place at every point along the production possibilities frontier.
A: The production possibility model shows the trade-offs associated with allocating resources between…
Q: What does Production Possibilities Frontier (PPF) stand for? Give an example of a simple two good…
A: (Q) What does Production Possibilities Frontier (PPF) stand for? Give an example of a simple two…
Q: State whether each entry below is positive or normative—explain your answer. Low-income people pay…
A: Positive and normative economics are correctly referred to as the two arms of economics. Positive…
Q: An inefficient use of resources may be illustrated with a production possibility curve as
A: A PPC or production possibility frontier is a graph concave to the origin that shows the combination…
Q: Suggest assumptions of the Production Possibility Frontier
A: The production possibility frontier implies a concave curve that shows the combinations of two goods…
Q: Using an appropriate diagram, explain how the production possibility frontier becomes a model of…
A: Production Possibility Curve (PPC) or Production Possibility Frontier may be defined as a curve…
Q: Determine if the following statement is normative or positive: Americans should have access to food,…
A: Positive economics is a stream of economics focused on identifying, quantifying, and explaining…
Q: Use the PPF to answer the following question: 1. Can we determine if Point F is allocatively…
A: Allocative efficient is the point on the Production Possibilities frontier where the production of…
Q: What does it mean by a linear production possibility frontier?
A: (Q) What does it mean by a linear production possibility frontier? Linear production possibility…
Q: Describe the concept of "Efficiency" with the help of the PPF concept.
A: PPF or production possibility frontier shows the combination of goods which could be produced from…
Q: explain how ppf can be used to illistate the loss of scarce resources
A: Production Possibility frontier:- When both product rely on limited resources, the production…
Q: Show what happens to the production possibilities frontier (PPF) if an epidemic reduces the…
A: Production possibilities frontier shows different combinations of two goods that can be produced…
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- If an unattainable point outside a production possibilities curve can become an attainable and even an efficient point, can an inefficient point become an efficient point in the production possibilities curve model? Explain with a graph.Covid -19 increases the number of unemployed workers in nation. What happens to the PPF curve? Also, from the list provided, please choose an explanation as to why you chose your previous answer. What happens to the PPF? Explain. Choose: PPF shifts outwards Produce inside PPF Produce outside PPF Increased production given resources Increase in resources PPF shifts inwards Unused ResourcesHomework (Ch 03) Attempts: Keep the Highest: 3/4 2. Gains from trade Consider two neighboring island countries called Contente and Felicidad. They each have 4 million labor hours available per week that they can use to produce rye, jeans, or a combination of both. The following table shows the amount of rye or jeans that can be produced using 1 hour of labor. Rye Jeans Country (Bushels per hour of labor) (Pairs per hour of labor) Contente 6. 12 Felicidad 16 Initially, suppose Contente uses 1 million hours of labor per week to produce rye and 3 million hours per week to produce jeans, while Felicidad uses 3 million hours of labor per week to produce rye and 1 million hours per week to produce jeans. Consequently, Contente produces 6 million bushels of Is rye and 36 million pairs of jeans, and Felicidad produces 12 million bushels of rye and 16 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each…
- The slope of the production possibilities frontier is calledAssume the economy can produce either sports utility vehicles (SUVS) or minivans. The graph below depicts the current production possibilities frontier (PPF). Suppose several new factories are built. Move the end points of the PPF below to show how the PPF changes. Assume that the factory construction affects the economy's ability to produce both minivans and SUVs. Quantity of minivans Quantity of SUVs PPF This is an example of: economic stagnation. economic recession economic contraction. economic growth.The accompanying graph contains the production. possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the PPF in the graph. Point A on the PPF 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. Please shift the PPF to show this change. Assume that Rubberland does not make more rubber band balls than they originally made at point A but still maximize their productive capabilities. Move point A to their new production point. How many more rubber hoses do they now produce per day than before? 20 more hoses per day Quantity of rubber band balls Incorrect 200 180 160 140 120 100 80 60 40 20 0 0 Rubberland's Production Possibilities 10 20 30 40 50 60 Quantity of rubber hoses PPF 70 80 90 100
- Consider an economy which uses all its resources to produce national security and consumer goods. Draw a PPF for this economy. Is the PPF convex and concave? ExplainUse the figure below to answer the following questions. Assume the economy is currently at PPC3. E F D A B PPC PPC 1 PPC PPC 2 Output of Trucks (per day)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?
- Which of the following would cause an outward shift of the production possibilities frontier?Illustrate and explain the Production possibilities frontier (PPF)Why does this PPF have a bowed-out shape? How can the economy increase its production of both tea and snacks? Graph the PPF with and show an increase in its production.