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Can someone show a graph for the 1 question and briefly explain what would happen to the production of Vulcan and tacos.
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- Question 1 Suppose a British Columbia has a total of 12 units of labour, which can be used to produce either computer or wheat. One computer takes 6 units of labour to produce and 100 kg wheat takes 2 units of labour to produce. (a) Explain why scarcity exists in this economy. Use the data as evidence of your reasoning. (b) What is the maximum quantity of computers that can be produced? (c) What is the maximum quantity of wheat than can be produced? (The graph below is Mendork's production possibility curve for the only two goods that it produces-quirks and quarks. Quantity of Quarks 800 700 600 500 400 300 200 100 A 2 4 6 8 10 12 14 16 18 20 Quantity of Quirks Select one: Refer to the graph above to answer this question. If new technology increased the output of quirks by 50%, how many quirks could be produced if 700 quarks were produced? B A. 9 quirks. B. 18 quirks. C. 10 quirks. D. 20 quirks. E. No quirks.Problem 3Suppose the following data reflect the production possibilities for providing healthcare and education:Units per YearHealth Care 400 370 330 270 190 100 0Education 0 20 40 50 60 70 80(a) Graph the production possibilities curve.(b) If maximum health care is provided, how much education will be provided?(c) What is the opportunity cost of increasing health care from 270 to 330 units?
- Minerals 25 (millions of tons) 20 15 10 5 5 10 15 20 25 Grapes (millions of tons) Figure 1 Production possibility frontier for Highland Towards the right of Figure 1 are two circular red markers with a line between them that you can use to draw a production possibility frontier on Figure 1. You can move the markers with the mouse by clicking on them and dragging. Alternatively, you can tab to each marker and then use the keyboard arrow keys. Decide where to position the red markers based on the information below. There are two countries, called Highland and Lowland, with very different geography. They both produce grapes and dig for minerals, using only labour, with constant returns to scale. Figure 1 shows the production possibility frontier for Highland and the table shows the working population and productivity for Lowland. Working population and production possibilities Working population Production of tons of grapes per person per year Production of tons of minerals per person per…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 40Could you reply to this message (you can agree/disagree or add more information)? Message: "To be completely honest, my knowledge on climate change and the science behind it is truly limited. However, I genuinely do believe in climate change and also believe that if actions are not taken quickly, irreversible damage to the planet will change the course of the future for the worse. In the lecture, we have heard countless times how we, as a generation, are the most important in directing the future of planet Earth. I also agree with these statements as well. Past generations have continued to push issues down on to the next group, hoping that others will make a change so that they do not have to. This is also seen in dealing with issues like the national debt and other social issues that are yet to be addressed. Thankfully, it appears that this generation is willing to take on the challenges that others have been fearful of in the past. In order to mitigate climate change, I believe…
- China Production Possibilities Product A B C D E F Apparel 20,000 16,000 12,000 8,000 4,000 0 Chemicals(tons) 0 8 16 24 32 40 U.S. Production Possibilities Product R S T U V W Apparel 60,000 48,000 36,000 24,0000 12,000 0 Chemicals(tons) 0 12 24 36 48 60What is an example of a problem in the world today, not mentioned in the chapter, that has an economic dimension?Would a research study on the effects of soft drink consumption on childrens cognitive development he a positive or normative statement?
- What does a production possibilities frontier illustrate?Point Pizzas Airplanes A 0 200 B 80 160 C 120 100 D 140 0 Is the production combination of 120 pizzas and 110 airplanes inside, outside, or on the country's PFF and is this production attainable? is the production combination of 100 pizzas and 100 airplanes inside, outside, or on the country's PFF and is this production combination attainable?Suppose the following data reflect the production possibilities for providing health care and education: Units per Year Health Care 400 370 330 270 190 100 0 Education 0 20 40 50 60 70 80 (a) Graph the production possibilities curve. (b) If maximum health care is provided, how much education will be provided? (c) What is the opportunity cost of increasing health care from 270 to 330 units?