This diagram represents the production possibility frontier of a Country. Point A has coordinates (0 S; 1.000 T) Point B has coordinates (2.000 S;OT) Point C has coordinates (1,200 5; 600 T) You are told that P(S)/P(T) is 0.5. What is the production point that is most likely to be chosen in equilibrium between A, B and C? 8 B S

What is the per-unit opportunity cost of product Y as production moves from point B to point F? a) -4/3    b) 4/3    c) ¾    d) -¾    e) none of the above

10 y PPF 40 X 4. What is the MARGINAL cost of producing good y? a) 1/4 of a unit of x. b) 1/4 of a unit of y. c) 4 units of x. d) 4 units of y.

R Imagine that it costs $40 in the United States to produce one ton of soybeans and transport them to market, while it costs $30 in Brazil to produce one ton of soybeans and transport them to market Imagine that it costs $20,000 in the United States to produce one automobile and transport it to maket, while costs $10,000 in Brazil to produce one automobile and transport it to market. Which of the following four arrangements would be most efficient? (Hint: Derived OC from PPF (production) = 1/OC derived from costs to make ) a. The United States should produce everything, since it can produce both soybeans and automobiles better than Brazil can produce them. Ob. Brazil should specialize and produce only automobiles. The United States should specialize and produce only soybeans. Then the two countries should trade with each other. Brazil will send automobiles to the United States, while the United States sends soybeans to the Brazil. Oc. The United States should specialize and produce…

Two neighboring island nations, Seychelles and Mauritius, produce iPad's, coffee, or a combination of both. Suppose that they each have 4 million labor hours available per week for production. The following table gives the amount of each product that can be produced using one hour of labor: Country Mauritius Seychelles Mauritius' opportunity cost of produing 1 iPad is iPads (per hour of labor) 12 of coffee. Therefore, 8 Initially, suppose Mauritius uses 1 million hours per week to produce iPads and 3 million hours per week to produce coffee, while Seycheles uses 3 million hours of labor per week to produce iPads and 1 million hours per week to produce coffee. Consequently, Mauritius produces 12 million iPads and 72 million pounds of coffee, and Seychelles produces 24 million iPads and 32 million pounds of coffee. Assume there are no other countries willing to trade with them. So, if Mauritius and Seychelles don't trade with each other, they can only consume what they can produce using…

The table below shows the production possibilities for Canada and Japan. Suppose that, prior to specialization and trade, both Canada and Japan are producing combination C. Product DVD players Bushels of wheat Product DVD players Bushels of wheat DVD players 100 80 60 40 20 0 20 A Canada 40 60 A 20 0 A 40 0 Quantity of wheat per period 80 B 15 20 a) Draw the production possibilities curve for Canada in the graph A, and indicate its present output position. Draw the production possibilities curve for Japan in graph B, and indicate its present output position. Plot only the endpoints of each curve in the graphing areas using the appropriate tool. Plot the output combination in each graph using the Point tool. 100 B 30 7.5 CANADA'S PRODUCTION POSSIBILITIES C 10 40 JAPAN'S PRODUCTION POSSIBILITIES с 20 15 Tools PP Curve combination D 5 Trading Possi New combina 60 D 10 22.5 E 0 80 E 0 30

Which of the following is a correct statement about production possibilities frontiers?    (A) An economy can produce only on the production possibilities frontier.    (B) An economy can produce at any point inside or outside a production possibilities frontier.    (C) An economy can produce at any point on or inside the production possibilities frontier, but not outside the frontier.    (D) An economy can produce at any point inside the production possibilities frontier, but not on or outside the frontier

05. What is the per-unit opportunity cost of product Y as production moves from point D to point B?     a) 6/7     b) -6/7     c) 7/6     d) -7/6

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Ron can either workout or make sushi rolls. It takes him 40 minutes to finish 1 workout and 20 minutes to make 1 sushi roll. If he has 120 minutes to do these two activities, what is the equation of the production possibility frontier (PPF) that describes the tradeoff between these two activities? (Assume workouts are on the x axis and sushi rolls are on the y axis) A y=6-2x B y=3-0.5x C y=3-2x D y=6-0.5x