What is the trade off between movies and other goods and services? How is this trade off illustrated by the production possibilities frontier?

The term "figure skating" refers to the shapes that skaters used to trace in the ice as part of skating competitions. In the 1970s, this aspect of the sport was deemphasized and eventually eliminated. Use the theory of comparative advantage to show why eliminating this part of the competition has led skaters to perform much more difficult and sophisticated jumps and spins. TERM

What is the opportunity cost of increasing the number of movies produced?

1. The following quote appears in The Wealth of Nations, a very influential economics book published in 1776 by Adam Smith. "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard for their own interest." Briefly interpret this statement, explaining why "their regard for their own interest" allows others' to expect dinner. 2. Read the following article themquse it to answer the questions that follow: https:// news.crunchbase.com/news/the-revenue-costs-and-margins-behind-birds-scooters/ a. There are typically 3-4 scooter rental companies operating in the same city. Would you predict demand for one specific scooter company, say Bird, is elastic or inelastic? Explain. b. What type of industry would you categorize the scooter rental market? What characteristics are like a competitive industry? What characteristics are unlike a competitive industry? 3. Use following site on the market price of soybeans: https://bit.ly/36LTHIW…

Based on the figure attached, please answer below questions What this figure represents. Explain.  How does the above curve illustrate the tradeoff we must make to increase food production

Bill and Melinda work for a firm that creates web pages and apps.  The number of web page designs and apps each can produce in a week is given in the table below.                                                                       Output per Week   web pages designed apps created Bill 3 12 Melinda 2 4   Melinda’s opportunity cost of designing one web page is: Group of answer choices designing 2 apps designing 3 apps designing 4 apps designing 5 apps

According to the article of Jan 18, 2016 "several Canadians are nominated for Oscars" answer the question that if we consider a production possibilities frontier that measures movies and other goods and services. How does the Production possibility frontier illustrate production efficiency? Use the economic concept.

On the following graph, use the blue line (circle symbol) to plot Nick's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Rosa's PPF.     Nick and Rosa are farmers. Each one owns a 12-acre plot of land. The following table shows the amount of corn and rye each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing corn or rye or to produce corn on some of the land and rye on the rest.   Corn Rye     Nick 12 3 Rosa 15 5     (ROSA OR NICK)  has an absolute advantage in the production of corn, and  (ROSA OR NICK)  has an absolute advantage in the production of rye.   Nick's opportunity cost of producing 1 bushel of rye is__________bushels of corn, whereas Rosa's opportunity cost of producing 1 bushel of rye is_________ bushels of corn. Because Nick has a(HIGHER OR LOWER)    opportunity cost of producing rye than Rosa, (NICK OR ROSA)   has a comparative advantage in the…

Consider the following dialogue between two economics students, Yvette and Bob, after a recent economics lecture.   YVETTE: Hi Bob. Today the professor said that the market decides how much of each good or service to produce. I don’t understand what that means. Nobody decides how many goods to produce. I’m so confused!   BOB: Okay, I see where you are confused. Let’s run through it one more time. You are correct that in a market system, no one person decides what quantities of goods to produce in the economy, though that may be the case in other types of economic systems. In a market economy, output levels are determined by individual producers and consumers buying and selling goods.   Suppose that in the market for smart phones, more smart phones were produced than consumers wanted to buy. In other words, smart phone producers have surplus smart phones that they cannot sell. ______ (options: Producers, Consumers) will _____ (options: lower, raise) the price of each smart phone…

Use the table with data for Maria and Jose to answer the question. Table: Maria and Jose Produce Strawberry Jam Jose charges $8 per jar. Jose charges $4 per jar. Maria charges $8 per jar. Maria charges $4 per jar. Maria earns $200, and Maria earns $50, and Jose earns $180. | Maria earns $300, and | Maria earns $180, and Jose earns $40. Jose earns $280. Jose earns $150. If Jose charges $8, then Maria's best price would be and she would earn $4; $180 O $4; $300 O $8; $200 $8; $50