Refer to the information provided in Figure below for the economy of Macroland to answer the question. Capital goods Consumer goods Refer to Figure above Macroland's production possibility frontier is bowed out from the origin due to Select one: O O OC a. decreasing opportunity costs. b. trade. c. specialized resources. d. unemployment.

Refer to the information provided in Figure below for the economy of Macroland to answer the question. Capital goods Consumer goods Refer to Figure above Macroland's production possibility frontier is bowed out from the origin due to Select one: O O OC a. decreasing opportunity costs. b. trade. c. specialized resources. d. unemployment.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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And since we're giving up some of one good, does that mean the opportunity cost is a negative number? Josie Well, we don't often say that "it cost us negative two dollars" or "we gave up negative two units of something," right? We just say "it cost two dollars" or "we gave up two units." Sabrina Yeah, the "we gave up" or "it cost us" part kind of implies the negative, doesn't it? Josie Exactly! So we put opportunity cost in terms of absolute value - we get rid of the negative sign. Continue Sabrina Okay, so what is the opportunity cost of one cake if we move from combination A to combination B? (If needed, round to two decimal places.) PPF PPF Point A B C D E Y2 Y1 O Number of Cookies 37 35 29 20 0 X1 X2 Number of Cakes 0 4 7 9 10 D X3 X4 E → Cakes
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Beth can read 30 pages of astronomy in an hour. She can also read 20 pages of sociology in an hour. She spends 6 hours per day studying. **Use the blue line (circle symbol) to draw Beth's production possibilities frontier (PPF) for reading astronomy and sociology. Diagram has Astronomy Pages on the left from 0-200 in increments of 20's On the bottom of the Diagram it lists Sociology Pages numbered the same fom 0-200 in increments of 20. Beth's opportunity cost of reading 60 pages of sociology is ___________ pages of astronomy.
Can the Production Possibilities Curve shift left? If not, explain why. If it can, explain what might cause this to happen.
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I need help with A and B.