The production possibilities are listed below:CoconutsPineapples8.2.428.Which of the following best describes the PPF for the information above?Select one:O a. The opportunity cost of producing an additional pineapple decreases as the amount of coconutsproduced decreasesO b. The opportunity cost of producing an additional pineapple is the same at every pointO c. The opportunity cost of producing an additional pineapple is zero at every pointO d. The opportunity cost of producing an additional pineapple increases as the amount of coconutsproduced increases6.4.

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Answered: The production possibilities are listed…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 9P

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5. Opportunity cost and production possibilities Carlos is a skilled toy maker who is able to produce both trucks and drums. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Hours Producing Produced Choice (Trucks) (Drums) (Trucks) (Drums) A 8 4 B 2 10 4 4 2 15 D 6. 1 17 8 18 On the following graph, use the blue points (circle symbol) to plot Carlos's initial production possibilities frontier (PPF). (? 30 25 Initial PPF 20 New PPF 15 10 1 2 3 5 7 8 TRUCKS DRUMS 2.
The table below represents the combinations of beef and corn produced on a tract of land of a given size and fertility Corn (bushels) Beef (kg) 10000 8000 900 6000 1200 4000 1400 2000 1475 1500 The production possibilities shown for corn and beef mean that the PPF Select one: O a. is concave because the total amount of beef increases as less corn is produced O b. is concave because the opportunity cost of corn falls as more corn is produced is concave because the opportunity cost of beef increases as more beef is produced O d. is a straight line because the change in corn is 2000 bushels all along
5. Opportunity cost and production possibilities Raphael is a skilled toy maker who is able to produce both cars and kites. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Hours Producing Produced Choice (Cars) (Kites) (Cars) (Kites) A 8 4 6 3 11 4 2 17 2 6. 19 E 8 20 2. B.
Consider the production possibilities frontier in the figure shown. The opportunity cost of cars when moving from point B to point C: Cigars 4004 300 200 100 O a Ob OC Od 10 B C 20 30 D 40 Cars is greater than the opportunity cost of cars when moving from point A to point B. None of these statements are true. is less than the opportunity cost of cars when moving from point A to point. 8. is greater than the opportunity cost of cars when moving between any other two points.
The table below contains 5 points on an economist's production possibilities frontier. What is the opportunity cost of moving from 14 lectures produced to 15 lectures produced? Combination Lectures A B C D E F 3 Publications 0 5 10 Publications 9 12 14 15 Publications 10 9 O 1 Lecture O The Time Spent Giving the 15th Lecture 3 0
1. Assume you are on an iceland, where you can produce different combinations of coconuts and fish that can be harvested in a given week. The table below shows these combinations. Notice that you can produce either all crabs, all pineapples, or a mix of the two. Coconuts Fish 25 3 15 4 12 5 a) Draw PPF using the information from this table; b) Calculate opportunity cost of coconuts if you decide to increase their harvest from 3 to 5; c) Calculate the slope of the PPF if you increase their harvest from 3 to 5; d) Will you harvest 5 coconuts and 12 fish on any day of the week? Why? e) Will you harvest 5 coconuts and 4 fish on any day of the week? Why?
The table below represents the combinations of beef and corn produced on a tract of land of a given size and fertility Corn (bushels) Beef (kg) 10000 8000 900 6000 1200 4000 1400 2000 1475 1500 Which of the following events is likely to lead to an outward shift of the PPF? Select one; O a. Some of the land is lost due to a flood O b. None of the answers are correct O c. Corn prices fall relative to beef prices O d. Twenty of the existing acres are not used for either beef or corn production a reallocation of land use such that corn production increases from 6000 bushels to 8000 bushels while beef production decreases from 1200 kg to 900 kg O e.
The graph shows Wendell's PPE Wendell's opportunity cost of playing one hour of squash as he spends more time playing squash 養 O A. increases, because each additional hour he spends playing squash results in a greater decrease in his calculus grade O B. decreases, if he gets more benefit from playing squash than from studying calculus O C. is constant, if he gets as much benefit from playing squash as he does from studying calculus O D. increases, because a tradeoff exists between playing squash and studying calculus
Table 2.1.1 The following table gives points on the production possibilities frontier for goods X and Y. Point Production of X Production of Y A B C) 4 units of Y. OD) 8 units of Y. E) 4 units of X. C D E 0 4 8 12 16 40 36 28 16 0 Refer to Table 2.1.1. The opportunity cost of increasing the production of X from 8 to 12 units is OA) 12 units of Y. B) 16 units of Y.
Study 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.
To determine how much of a good to produce to achieve allocative efficiency, we O A. construct a production possibilities frontier and choose the midpoint. O B. must produce on the PPF and at the point where the marginal benefit exceeds by as much as possible the marginal cost of the good. OC. construct a production possibilities frontier and choose any point on it. O D. must produce on the PPF and at the point where the marginal benefit exceeds by any amount the marginal cost of the good. O E. must produce on the PPF and at the point where the marginal benefit and marginal cost of the good are equal.
5. Opportunity cost and production possibilities Van is a skilled toy maker who is able to produce both trucks and balls. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Hours Producing Produced Choice (Trucks) (Balls) (Trucks) (Balls) A 8 4 B 6 2 3 8 4 4 2 13 D 2 6 1 15 E 8 16 On the following graph, use the blue points (circle symbol) to plot Van's initial production possibilities frontier (PPF).

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