13. Explain why societies cannot make a choice above their production possibilities frontier and should not make a choice below it.

Q: 2. Explain how do economists make rationale choices to allocate the scarce resources?

A: Scarcity refers to the situation where the unavailability of resource to meet the unlimited human…

Q: FIGURE 2-4 Production possibilities curve Food Refer to Figure 2-4. Which of the following best…

A: Here, ghr given graph shows a production possibility curve with Point A and Point D

Q: Figure 3-3 Arturo's Production Possibilities Frontier Dina's Production Possibilities Frontier…

A: The economies tend to use their limited amount of resources in various ways in order to fulfill the…

Q: This question has multiple answers. Choose all that apply. As we move along the production…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Question 18 Figure 4: Production possibilities frontier candes 45 40 35 30 25 20 15 10 6 S 10 12 14…

A: The economy has the ability to produce at which points.

Q: Question 3 Person 1 can allocate her 8-hour day between the production of two goods: A and B. Each…

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

Q: G New tab google classroom - Search X A Classes…

A: Budget constraints display various pairings of two things that a buyer could buy based on his money.…

Q: Gorgeousleny of course as a consumer have so many thing in mind to buy aside from juice. with her…

A: Opportunity cost a good refers to the amount of consumption foregone of other goods in order to…

Q: 5. Opportunity cost and production possibilities Hubert is a skilled toy maker who is able to…

A: Opportunity cost is the sacrifice made in one commodity to get more of other. It can be said as the…

Q: 4: What does a Production Possibilities Curve depict? 5: What is the Law of Demand? 6: What…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Problem Attached

A: PPC(production possibility curve) shows various combination of two goods(here, police station &…

Q: Figure 2-7 Production possibilities curve A Food If an economy operates at point A on the production…

A: The point A on the production possibility curve as shown in the given diagram, indicates that the…

Q: 1. The diagram above shows the production possibilities curve for an economy. Which of the following…

A: PPC stands production possibilities curve which represent the possibilities of production in an…

Q: What is Production Possibility Frontier? Draw and explain a production possibilities frontier for an…

A: The wants and desires of humans are unlimited but the resources available to satisfy those wants and…

Q: What does a production possibilities frontier represent? Explain how you would use it to make…

A: The production possibilities frontier (PPF) is the producer's side concept which is the…

Q: Production Alternative Types of Production А B E Sandals 10 12 14 16 Boots 50 40 30 20 Draw a…

A: The Production Possibilities Curve (PPC) is a model that depicts the tradeoffs that occur when…

Q: D). Draw a Production Possibilities Frontier for two goods: airplanes and soybeans. Choose the…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: on 1 When a society cannot produce all the goods and services people wish to have, it is said that…

A: Note:- “Since you have asked multiple question, we will solve the first question for you. If you…

Q: Given the following production possiblities curve a. Does this production possibilities curve show…

A: A production possibility curve (PPC) shows various combinations of two goods that can be produced…

Q: 10. Use a production possibility frontier to describe and explain the idea of efficiency, as…

A: Economic efficiency as per the economist is a state in which each resource is allocated optimally to…

Q: 20 Autarky is Production possibilities < consumption possibilities. TRUE or FALSE? False O TRUE…

A: Whrn talking about autarky, it is the situation when a country is producing at a self-sufficiency…

Q: Below is a production possibilities table for consumer goods (automobiles) and capital goods…

A: Meaning of Production Possibility Curve: The term production possibility curve refers to the…

Q: 1. Cars(thousands) Beef (Thousands of tons) 10 mal B 2 9 с 4 7 6 E 8 O 0 a)Plot the production…

A: A Production Possibility Frontier is a curve depicting a combination of two goods that can be…

Q: 2. What effect does "Increasing Opportunity Cost" have on the Production Possibilities Curve?

A: 2. The potential benefits that an individual, investor, or business misses out on when choosing one…

Q: 72 96 112 Beef 30 27 21 12 Complete the following (approximate) possibilities for Emilon. a. Emilon…

A: In business analysis, the production possibility frontier (PPF) is a curve illustrating the varying…

Q: Below is a production possibilities table for consumer goods (automobiles) and capital goods…

A: The graphical representation of the table is:

Q: 10. What is an opportunity cost? Give an example from class or make up your own. Definition:…

A: Opportunity cost is the foregone benefit of the alternative preferred. It is simply the benefits…

Q: 2. Give at least four examples of trade-offs when scarce resources are used. a. b. C. d.

A: Scarcity means resources are limited and our wants are unlimited. It means the demand exceeds the…

Q: 4. The opportunity cost of shifting production choices The following graph shows the production…

A: Opportunity cost is the profit that would have been lost had the producer chosen the alternate…

Q: Provide short answer for the following. 1.Why is it that the production possibilities curve is…

A: As per our guidelines we are supposed to give the answer of only one question at a time. That's why…

Q: How could a society manage to end up consuming a bundle of goods that is beyond its production…

A: Production possibility frontier (PPF) shows a probable combination of two commodities produced in an…

Q: 5. Opportunity cost and production possibilities Edison is a skilled toy maker who is able to…

A: Production possibilities frontier shows quantities of two goods produced with the resources and…

Q: Question 2 (2mark)_ explains why a production possibilities curve is often represented as concave…

A: Production possibilities curve (PPC) is a curve that depicts all possible combination of two goods…

Q: Question 3 Person 1 can allocate her 8-hour day between the production of two goods: A and B. Each…

A: In an economy, production possibility curve is used to analyze the relationship between input and…

Q: 5. Opportunity cost and production possibilities Simone is a skilled toy maker who is able to…

A: Production possibilities frontier shows different combinations of two goods that can be produced…

Q: 4. What are the three conditions that must exist when there is allocative efficiency? Allocative…

A: Allocative efficiency means when the goods and services in an economy are optimally distributed…

Q: Types of Production C Automobiles 6. Missiles 30 27 21 12 1. Draw a production possibilities curve…

A: Production possibility curve depicts the combination of two goods that a nation can produce by using…

Q: 1. Explain the economic problem of scarcity.

A: Scarcity refers to a situation in which there is a shortage of desired goods. Normal…

Q: What is opportunity cost? Give with example?

A: Economics as a study is a very vast field of study, because it is applied in every individual's…

Q: 7. What is scarcity? In market economies, what determines the distribution of scarce goods and…

A: Scarcity is the basis of the essential problem of Economics i.e the distribution of limited means…

Q: The figure shows an economy's production possibilities frontier and identifies some production…

A: Production Possibility Frontier(PPF) is known as the locus of different possible combination of two…

Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.