Section II Diagrams and 1. Draw a PPC diagram, show one unattainable and one inefficient production combination of a firm that produces volleyball and basketball can choose. [3 marks] thto non do W. Dloz prow
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![Section II Diagrams and
1. Draw a PPC diagram, show one unattainable and one inefficient production
combination of a firm that produces volleyball and basketball can choose. [3
marks]
thto non do W. Dloz prow](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8ad95243-8454-4066-9331-76c3c21a8d7e%2F33c751bc-bb0a-4dd7-9752-187ab0fab7c9%2Fkd7l8ze_processed.jpeg&w=3840&q=75)
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- Belarus has a comparative advantage in the production of linen, but Russia has an absolute advantage in the production of linen. If these two countries decide to trade. Select one OA Belarus should export linen to Russia. Ob Russia should export linen to Belarus. trading linen would provide no net advantage to either country Od Without additional information about opportunity costs, this question cannot be answered. 2012 Hauton Community College 2100 Man Street Hounton, TX 77002 711718.2000Why is a production possibilities frontier typically drawn as a curve, rather than a straight line?Question 2 (1 polnt) The four people listed below are the only workers In an economy that works 10 hours per day and only produces two products. Use the table below and the questlons below to construct a PPF that displays the maximum efficlent production. Basketballs Per Hour Apple Ples Per Hour LeBron Anthony Rajon 3 Alex If the x-axis Is ples, and the y-axis is basketballs, then what is the Intercept of the PPF curve on the apple ples axis? O a (16, 0) O b (120, 0) (0, 120) (0, 12) 144 m 4239
- wine 90 80 70 60 50. D012 mani 40 30 20 10 PPF Portugal (c) 1 bome of (0)2 bottles of sine (0)3 bottles of wine CPF of t 0 10 20 30 40 50 60 cloth 11. What is the elave price opportunity cost of col in England, betere trade beges? A) 1/2 yard of cloth wine 90 80 70 60 50 40 30 20 10 England PPF CPF 0 10 20 30 40 50 60 clothJackie land is known for the production of Cupcakes and Robots. The following is a PPT for Jackie land: A B C D E F G H I J Cupcakes: 0 2 6 10 14 18 22 26 28 30 Robots: 30 28 26 22 18 14 10 6 2 0 Draw and label (each axis and each point). Put cupcakes on the Y Indicate on the graph with Point K where inefficient Indicate on graph with Point L where unattainable is Note that points A – J indicate efficient uses ofQuestion & Use the table to answer the question. Apples Bananas Country A Country B 800 500 O a O b Ос Od 1500 If all resources of Country A and Country B were dedicated toward the production of either apples or bananas, the maximum production of each is summarized in the table above. In order for both countries to benefit from trade, which country should specialize in banana productio and why? 1600 Review Answers Country A since it has the absolute advantage in banana production. Country A since it has the comparative advantage in banana production. Country B since it has the comparative advantage in banana production. Country B since it has the absolute advantage in banana production. Saved at 8:09 am Support | Schoology Blog | PRIVACY POLICY | Terms of
- |4. Help Samanthaville prioritize Using the chart below, graph a production possibilities frontier plotting Samanthaville’s points of efficiency. Place studying Economics Textbooks on the x-axis and piggy banks on the y-axis. Economics Textbooks Piggy Banks Hours 60 85 95 50 75 2 3 90 4 100 100 a) What are the 5 possible points of efficiency for Samanthaville? Create a production possibilities graphing these 5 points of efficiency. b) Evaluate the following statement: "Samanthaville should spend 2 hours making Economics Textbooks and 2 hours making Piggy Banks." Is this a positive or normative statement? Explain. c) What is Samanthaville's marginal opportunity cost making the 4th Econ Textbook? d) What is Samanthaville's marginal opportunity cost of making the 2nd Piggy Bank30 Rafael's PPF Naomi's PPF 30 30 25 25 E of 20 20 A 15 15 10 10 A 5 5 10 15 20 25 30 0 5 10 15 20 25 30 Rackets Rackets Refer to the diagrams above. Suppose that before trading, Rafael and Naomi had been producing at point A on their respective PPF. What is Naomi's opportunity cost of producing 1 Racket? Select one: a. - 3 Balls b. - 1 Ball С. - 1/3 Вal d. - 15 Balls Balls BallsOnly typed answer Kara and Kyle are competing sockeye salmon fishers. Both have been allocated ITQs that limit their catch to 2,000 tons of sockeye salmon each. Kara's cost per ton is $6; Kyle's cost per ton is $10. Assume that the market price of sockeye salmon is $14 per ton. If Kara pays Kyle $5 per ton for his ITQs, and if she then catches her new limit of 4,000 tons, her profit would be?
- 9. How does the fact that many goods are nontraded affect the extent of possible gainsfrom trade?When does market equilibrium occur? Show the market clearing price and the correspondingquantity by using graph. Figure 1. Production Possibility Curve (Maize and Apple) c Figure 1. Production Possibility Curve (Maize and Apple) YA Хл PPFScarves 90 Figure 1 5. Figure I shows the PPF between Caps (C) and scarves (S). Assume that Caps sell for $8 and scarves sell for SS. The maximum revenue that you can earn is you will produce and 80 70 60 and 50 scarves 40 саps. 30 Show your work on the figure 20 10 5 10 15 20 25 30 35 40 45 50 55 60 Саps
