+. * 00 R 3. 20 15 10 DRUMS Homework (Ch 02) New PPF 2 3 4 1. 9 7. 8. TRUCKS Suppose Carlos is currently using combination D, producing one truck per day. His opportunity cost of producing a second truck per day is per day. Now, suppose Carlos is currently using combination C, producing two trucks per day. His opportunity cost of producing a third truck per day is per day. From the previous analysis, you can determine that as Carlos increases his production of trucks, his opportunity cost of producing one more truck Suppose Carlos buys a new tool that enables him to produce twice as many trucks per hour as before, but it doesn't affect his ability to produce drums. Use the green points (triangle symbol) to plot his new PPF on the previous graph. Because he can now make more trucks per hour, Carlos's opportunity cost of producing drums is it was previously. Grade It Now Save & Continue MacBook Pro G Search or type URL $ ) 5. 9. 6. K C V B N 00 T 30 25 20 15 10 ABC DE DRUMS 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) (Trucks) (sunja) (sunja) 8. 4. 2 6. 3. 8. 4 4. 14 2. 9. 17 On the following graph, use the blue points (circle symbol) to plot Carlos's initial production possibilities frontier (PPF). Initial PPF New PPF MacBook Pro Search or type URL %24 3. 4. ) 6. R K B. N
+. * 00 R 3. 20 15 10 DRUMS Homework (Ch 02) New PPF 2 3 4 1. 9 7. 8. TRUCKS Suppose Carlos is currently using combination D, producing one truck per day. His opportunity cost of producing a second truck per day is per day. Now, suppose Carlos is currently using combination C, producing two trucks per day. His opportunity cost of producing a third truck per day is per day. From the previous analysis, you can determine that as Carlos increases his production of trucks, his opportunity cost of producing one more truck Suppose Carlos buys a new tool that enables him to produce twice as many trucks per hour as before, but it doesn't affect his ability to produce drums. Use the green points (triangle symbol) to plot his new PPF on the previous graph. Because he can now make more trucks per hour, Carlos's opportunity cost of producing drums is it was previously. Grade It Now Save & Continue MacBook Pro G Search or type URL $ ) 5. 9. 6. K C V B N 00 T 30 25 20 15 10 ABC DE DRUMS 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) (Trucks) (sunja) (sunja) 8. 4. 2 6. 3. 8. 4 4. 14 2. 9. 17 On the following graph, use the blue points (circle symbol) to plot Carlos's initial production possibilities frontier (PPF). Initial PPF New PPF MacBook Pro Search or type URL %24 3. 4. ) 6. R K B. N
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section21.5: Production And Costs In The Long Run
Problem 1ST
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Transcribed Image Text:+.
* 00
R
3.
20
15
10
DRUMS
Homework (Ch 02)
New PPF
2
3
4
1.
9
7.
8.
TRUCKS
Suppose Carlos is currently using combination D, producing one truck per day. His opportunity cost of producing a second truck per day is
per day.
Now, suppose Carlos is currently using combination C, producing two trucks per day. His opportunity cost of producing a third truck per day is
per day.
From the previous analysis, you can determine that as Carlos increases his production of trucks, his opportunity cost of producing one more truck
Suppose Carlos buys a new tool that enables him to produce twice as many trucks per hour as before, but it doesn't affect his ability to produce
drums. Use the green points (triangle symbol) to plot his new PPF on the previous graph.
Because he can now make more trucks per hour, Carlos's opportunity cost of producing drums is
it was previously.
Grade It Now
Save & Continue
MacBook Pro
G Search or type URL
$
)
5.
9.
6.
K
C V B N
Transcribed Image Text:00
T
30
25
20
15
10
ABC DE
DRUMS
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)
(Trucks)
(sunja)
(sunja)
8.
4.
2
6.
3.
8.
4
4.
14
2.
9.
17
On the following graph, use the blue points (circle symbol) to plot Carlos's initial production possibilities frontier (PPF).
Initial PPF
New PPF
MacBook Pro
Search or type URL
%24
3.
4.
)
6.
R
K
B.
N
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