2. Bangladesh Production The following production possibilities table data represent the amount of t-shirts and shorts produced in Bangladesh in a day. T-Shirts Option A BCDE 80,000 60,000 40,000 20,000 0 Shorts 0 4,000 8,000 12,000 16,000 a. Plot the above options as a production possibilities curve, placing t-shirts on the y-axis and shorts on the x-axis. b. Solve for the slope between each point, or option, on the graph. c. State the cost ratio of shorts to t-shirts between each point, or option, on the graph.

2. Bangladesh Production The following production possibilities table data represent the amount of t-shirts and shorts produced in Bangladesh in a day. T-Shirts Option A BCDE 80,000 60,000 40,000 20,000 0 Shorts 0 4,000 8,000 12,000 16,000 a. Plot the above options as a production possibilities curve, placing t-shirts on the y-axis and shorts on the x-axis. b. Solve for the slope between each point, or option, on the graph. c. State the cost ratio of shorts to t-shirts between each point, or option, on the graph.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Draw the production possibilities frontier on a scale diagram, with the production of X on the horizontal axis and the production of Y on the vertical axis Annual Production of Y Annual Production of X 0 20 45 60 70 75 1300 1200 900 6:00 350 0 b. If the economy is producing 45 units of X and 900 units of Y, what is the opportunity cost of producing an extra 15 units of X. Show on graph. C. If the economy is producing 20 units of X and 800 units of Y, what is the opportunity cost of producing an extra 10 units of X. Show on graph.
c. Graphically illustrate a production possibilities curve for books and ice cream.
Macmillan Learn Suppose that Ned can produce either potato chips or computer chips. If he only produces potato chips he can produce 50 in a day. If he only produces computer chips, he can produce 25 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. Potato Chips 50 45 40 35 30 25 20 15 10 Incorrect 5 O 0 5 10 15 20 25 30 Computer Chips 35 40 Ned's PPP 45 50 What is the opportunity cost of potato chip production in terms of computer chips? 4/3 0 0 0 1/2 50 25 2 3/4
Exercise 2 Suppose that each worker in the Foreign country can produce two cars or three TVs. Assume that Foreign also has four workers. a. Graph the production possibilities frontier for the Foreign country.
Refer to the production possibility frontiers for two friends Frodo and Sam who can both produce Ice creams and Jelly beans. Frodo's maximum production of Ice creams is 500 with no Jelly beans, or 2,000 Jelly beans with no Ice creams. Sam's maximum production of Ice creams is 600 with no Jelly beans, or 1,200 Jelly beans with no Ice creams. ICE CREAMS ICE CREAMS 600 500 1200 JELLY BEANS 2000 JELLY BEANS Frodo' PPF Sam's PPF Answer briefly these TWO questions in the box space provided below. Part A: Assuming efficient production without trade, derive the maximum amount of Jelly beans that can be produced by Sam along with 300 Ice creams. Describe your steps in detail. Part B: Assume that Frodo and Sam agree to specialize in production and trade between themselves. Frodo offers 1,000 Jelly beans to Sam in exchange for 300 lce creams. Would Sam agree to this trade?
Both Geppetto and Lewis are toy store owners. They decide that they would like to trade puzzles and puppets in order to better stock their toy store shelves. The table below compares their production possibilities schedules. Production Possibilities Schedules Geppetto Lewis Puzzles Puppets Puzzles Puppets 90 75 10 8 60 15 12 16 45 20 8 24 30 25 32 40 030 Instructions: Enter your answers as a whole number. a. Geppetto and Lewis agree to trade at a rate of 3 puzzles for each puppet. With those terms of trade, who is most likely to be the supplier of puzzles? Who is most likely to be the supplier of puppets? Puzzles: (Click to select) Puppets: (Click to select) b. The two toy store owners agree to specialize and to trade 30 puzzles for 10 puppets. The terms of trade are still 3 puzzles for each puppet. How many puzzles and puppets will each one have after they complete their trade? Lewis: puzzles and puppets Geppetto: puzzles and puppets
MANCOSA Use the following production possibility curve (PPC) of the Land of Oz to answer the question. The Land of Oz can only produce yellow bricks or tin. What should happen for the unattainable point, point D, to become attainable? Tin (t) 9 000 7 000 A PPC, B 16 mil Yellow bricks O A. Decrease in the minimum wage. O B. Decrease in economic growth. O C. Increased taxes for brick makers and tin producers. O D. Emigration of workers out of the country. PPC₂ 19 mil 4
could someone draw a graph on paper please? a. Using one of the graphing tools described in the directions, plot the Production Possibilities Curve for Teavana. b. Find the combination of Jade Citrus Mint Tea and Spiced Apple Cider of 47 Jade Citrus Mint Tea and 35 Spiced Apple Cider. Label this point F. What term best describes this point? c. Find the combination of Jade Citrus Mint Tea and Spiced Apple Cider of 16 Jade Citrus Mint Tea and 20 Spiced Apple Cider. Label this point G. What term best describes this point?
ple Choice ý the letter of the choice that best completes the statement or answers the question. 1. Which of the following is an example of lower production costs brought about by the use of technology? the delivery costs of gasoline to the consumer by diesel trucks the use of e-mail to replace slower surface mail а. b. the making of breads and pastries in local shops rather than large bakeries the importing of fresh vegetables from South America rather than using canned vegetables- с. d. 2. What is the effect of import restrictions on prices? They cause prices to drop. b. a. They cause prices to rise. They often cause prices to rise steeply and then drop. d. They usually do not have any lasting effect on price. с. 3. What do sellers do if they expect the price of goods they have for sale to increase dramatically in the future? sell the goods now and try to invest the money instead of resupplying sell the goods now but try to get the higher price for them store the goods until the…
Figure 1 The production possibility frontier ABCDE is a production possibility frontier. It shows the different combinations of goods which can be produced if all resources are fully and efficiently utilised. The economy can produce at any point on the line. It cannot produce at G because the PPF shows the maximum that can be produced. It can produce within the PPF,05 such as at F, but less will be produced than the maximum possible. Non-manufactured goods 50 40 30 20 10 0 A 10 B Ti C 20 30 Manufactured goods G D E 40
Both Geppetto and Lewis are toy store owners. They decide that they would like to trade puzzles and puppets in order to better stock their toy store shelves. The table below compares their production possibilities schedules. Production Possibilities Schedules Geppetto Lewis Puzzles Puppets 90 E 0 Puzzles 20 Puppets 75 TH 10 16 8 60 15 12 16 45 20 8 24 30 EHT 25 30 32 40 Instructions: Enter your answers as a whole number. a. Geppetto and Lewis agree to trade at a rate of 3 puzzles for each puppet. With those terms of trade, who is most likely to be the supplier of puzzles? Who is most likely to be the supplier of puppets? Puzzles: (Click to select) Puppets: (Click to select) b. The two toy store owners agree to specialize and to trade 30 puzzles for 10 puppets. The terms of trade are still 3 puzzles for each puppet. How many puzzles and puppets will each one have after they complete their trade? Lewis: puzzles and [ puppets Geppetto: puzzles and puppets
Potatoes (tons) 8 100 200 300 400 500 Sausages (tons) 400 350 300 a. If the two countries decided to combine their resources, what is the maximum amount of potatoes the two countries could produce? O 250 tons O 500 tons O 1,000 tons 750 tons 250 b. If the two countries decided to combine their resources, what is the maximum amount of sausages the two countries could produce? 200 Sausages (tons) 158 128 98 150 100 250 tons 350 tons c. If the two countries specialize and produce the good in which they have a comparative advantage. what is the maximum combination of potatoes and sausages they can produce together? 50 60 30 8 150 tons 750 tons O 750 tons of potatoes and 350 tons of sausages 500 tons of potatoes and 200 tons of sausages 650 tons of potatoes and 450 tons of sausages 250 tons of potatoes and 150 tons of sausages d. Using the three combined amounts of production, graph the combined production possibilities frontier for Ireland and Scotland. Instructions: Use the tool provided…