Think of the production possibilities frontier (PPF) model. When society is producing the largest possible output from its resources, it is operating O a) efficiently. O b) inefficiently. O c) beyond its opportunity cost.
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- Consider the figure at the right, which represents the production possibilities boundary for pizzas and guns. The combination(s) of pizzas and guns at O A. points A and C are just attainable but inefficient. O B. points A and C are less efficient than point B. O C. point B is efficient but unattainable. O D. point B is attainable but inefficient. O E. points A and C are unattainable. Quantity of Pizza Quantity of Guns CGmail Remaining Time: 4 hours, 12 minutes, 19 seconds. * Question Completion Status: 60°F Cloudy Ⓒ YouTube 2 Maps S * What does the shape of the Production Possibilities Frontier say about the production of these two goods ? O A. Goods Land M require identical resources to produce. O B. There are decreasing Opportunity Costs as more of Good M is produced. O C. There is Zero Opportunity Cost in terms of Good L as more of Good M is produced. O D. Goods L and M are used in fixed proportions to produce another good. O E. Goods L and M require different resources to produce. 3 W E Lamar State Colleg... us history D $ A R LL 40 % 5 T 6 Good L O Search & Y 10 7 G H 5 5 Good M U 8 ly f10 ( 1 9 J K 10 O O O L PThe figure shows an economy's production possibilities frontier and identifies some production points. ....I Which points are efficient? O A. Points F and G only O B. Points A, B, C, F, and G O C. Points D and E only O D. Points A, B, C, D, and E O E. Points A, B, and C only
- Consider the figure at the right, which represents the production possibilities boundary for pizzas and guns. The combination(s) of pizzas and guns at OA. points A and C are just attainable but inefficient. O B. points A and C are less efficient than point B. OC. point B is efficient but unattainable. OD. point B is attainable but inefficient. O E. points A and C are unattainable. Quantity of Pizza B Quantity of GunsStudy the following diagram and answer the question that follows: Submarines C b 0 Hospitals With reference to the above production possibilities frontier, we can say that... O A. the opportunity cost of producing one more hospital is higher at f than at g. O B. the opportunity cost of producing Oa hospitals is Ob submarines. O C. the opportunity cost of producing one more submarine is higher at g than at f. O D. the opportunity cost of producing Oa hospitals is cb submarines.which one of the following is true about the production possibilities frontier (ppf) o a. the information is perfect o b. large number of buyers and sellers o c. free entry and exit o d. government interference in economic activities
- The shape of the PPF curve illustrates... O A. Decreasing opportunity cost O B. Increasing opportunity cost O C. Allocative inefficiency O D. Allocative efficiencyIn economics, normative statements are about Select one: O a. the way things are. O b. the way things ought to be. Oc. marginal benefits, not marginal costs. O d. marginal costs, not marginal benefits. The production possibilities frontier bows outward because Select one: O a. opportunity costs are decreasing as the production of a good increases. O b. resources are of uniform quality. Oc. opportunity costs are increasing as the production of a good increases. O d. opportunity costs are fixed as the production of a good increases.What happens if a country produces a combination of goods that efficiently uses all of the resources available in the economy? 100- O A. The country has eliminated scarcity. O B. The country is maximizing its opportunity cost. A 80- c. The country is operating on its production possibilities frontier. B G O D. All of the above occur if a country uses all available resources. 60- Refer to the graph to the right. What is the opportunity cost of moving from point B to point C? 40- O A. 40 sedans 30 F **... O B. 40 SUVS D 20- O C. 20 sedans O D. 20 SUVS 10 50 E 20 40 60 80 100 Quantity of SUVS produced per day Quantity of sedans produced per day
- The figure shows the production possibilities frontier for a country. If the economy is operating at point B, then the opportunity cost of another million gallons of milk is Ice cream (millions of gallons per year) O A. 1 gallon of ice cream for a gallon of milk. O B. 4 gallons of ice cream for a gallon of milk. O C. zero because after producing another million gallons of milk then zero gallons of ice cream are produced. 4 D. 3 gallons of ice cream for a gallon of milk. E. 1/3 of a gallon of ice cream for a gallon of milk. 4. Milk (millions of gallons per year)Which of the following is not illustrated by a production possibility frontier (PPF)? Select one: a. the equilibrium price b. scarcity O c. productive efficiency d. necessity for choice e. opportunity costBased on the graph, what is the opportunity cost of moving from point B to point D? Baseballs 200 150 100 C 50 100 200 300 400 Bananas Select one: O a. 100 bananas and 100 baseballs O b. 100 bananas and 50 baseballs O c. 50 baseballs O d. none of the answers are correct O e. 100 bananas B.