Q: 10) PPFS for Countries X and Y 300 Y 200 400 tons of rice a). In the graph above, what is the…
A: Comparative advantage, when country can produce a good with least opportunity cost than than others.
Q: What information additional information (besides what is shown in the PPC) would be needed for the…
A: c. All government consumption, investment, and transfer payments are included in government spending…
Q: Paul's PPF Sue's PPF Cheese Cheese 100 60 40 30 20 80 Ham 36 90 Ham The graph above shows that Paul…
A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: In a world where the only goods are cell phones and cereal: Jennereelam can produce: 80m kilos of…
A: According to the question given, Jennereelam can produce 80 million kilos of cereal and 200…
Q: Which of the following is most likely to shift the PPC out and to the right? O The discovery of a…
A: PPC refers that Production Possibility Curve which show the production of the two goods by using the…
Q: N. Draw a new curve, on the same graph, reflecting what the PPC might look like if new production…
A: Answer: (A). The graph of PPF is given below: According to the above graph, the x-axis measures…
Q: What is allocative efficiency and how does it relate to the PPC
A: Production Possibility Curve or PPC represents all the combinations of two goods which can be…
Q: Using a simple model of the Production Possibilities Curve (PPC), label points that show…
A: The PPC is the production possibility curve which illustrates the different combinations of two…
Q: 4. Demonstrate your understanding of the PPC. Use the table below to graph the PPC and make the…
A: Given A B C D E Ice cream 0 1 2 3 4 Chocolate 30 29 25 15 0
Q: Use the following production possibilities frontier for a country to answer the following questions.…
A: Production means goods are produced in such a manner that cost is minimized and production is…
Q: The following graph shows the production possibilities frontier (PPF) of an economy that produces…
A: Opportunity cost is the forgone profit that the producer would have gained if he had selected the…
Q: The following graph shows the production possibilities curve (PPC) of an economy that produces…
A: Opportunity Cost is the cost or value of doing something or of choosing an alternative. It can be…
Q: D.) Show an example of trade between the two nations. You must establish a terms of trade And show…
A: Since you have asked specifically the solution for part D, we are providing with the answer for Q…
Q: 12. Use the production possibility curve (PPC) to answer the question. If Zambia is currently on…
A: The production possibility curve (PPC) shows the bundle of two commodities that a country can…
Q: Suppose Martha and Julia both work at a bakery making bread and muffins. In an hour, Martha can…
A: Comparative advantage is based on opportunity cost. Absolute advantage is based on the number of…
Q: What two things must change or be improved to move a PPC out?
A: The production possibilities curve or PPC is a diagrammatic representation of the combination of two…
Q: Sara and Fran produce boards and sails for windsurfing. The tables show their production…
A: Comparative advantage refers to the ability to produce goods and services at a lower opportunity…
Q: Consider the PPF of a country with movies on the horizontal axis and computers on the vertical axis.…
A: Production Possibility Frontier refers to the curve that shows different possible combinations of…
Q: use a diagram to ishow how ppf illustrates the loss of resources for a country
A: PPF or Production Possibility frontier gives the possible combination of goods that can be produced…
Q: what accounts for the shape of the PPC? In other words, what is it about the relationship between…
A: The production possibility frontier (PPF) is a curve on a graph that delineates the potential…
Q: Suppose that there are 10 million workers in Canada and that each of these workers can produce…
A: a. Total number of workers in Canada = 10 Million Production by 1 worker in Canada = 2 cars or 30…
Q: 8. Germany and Japan both produce cars and beer. The table below shows production possibilities per…
A: A country has absolute advantage in production if it can produce more output than it's competitor…
Q: What is ppc?
A: PPC stands for production possibility curve.
Q: The blue (inner) curve on the following graph shows the current production possibilities curve (PPC)…
A: The production possibility curve (PPC) is a locus of the combination of two goods that an economy…
Q: 3. Why do you think the PPF of the Philippines will possibly shift to the left? Explain.
A: The production possibility frontier would result in the producing the maximum amount of output which…
Q: Between a straight line PPF and concave PPF, which one is more realistic? Why? Explain with example…
A: A production possibility frontier (PPF) shows the maximum output combinations of two goods an…
Q: On a PPC graph, how is economic growth shown? O By pushing the curve to the right. O By moving the…
A: Correct: By pushing the curve to the right
Q: c) Who has an absolute advantage in the refuelling the car and replacing a tire? Based from the…
A: Refuel (R) Tire Change (T) B1 4 sec ( 1 R costs 2 T) 2 sec (1 T costs 0.5 R) B2 6 Sec (1 R…
Q: Compare the points inside the PPF and outside the PPF. Explain.
A: Point inside and outside the production possibility Frontier indicate different things.
Q: Looking at the production possibility curve, it can be noticed that Zimbabwe's production of oil and…
A: A production possibility curve that refects different combinations of output that can be produced…
Q: 1. Suppose that in a year an American worker can produce 100 shirts or 20 computers, while a Chinese…
A: In economics and international trade, absolute advantage and comparative advantage are two…
Q: Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10 tons…
A: The trade pattern is decided by the comparative advantage. A country that does not have absolute…
Q: Answer the attached question
A: Production possibility frontier refers to all possible combinations of two goods that can be…
Q: b. Illustrate a PPC for cars and books. c. Give economic meaning to this PPC.…
A:
Q: Consider a simple economy of Korea - producing two goods, Motor bike and milk. The details of the…
A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Solve the attahment.
A: David Ricardo's theory of comparative advantage provides a paradigm for international trade between…
Q: Hello, I am having problems with these two questions. Refer to attached picture for questions.…
A: It is given that there are two nations (Korea and Malaysia) that produces two goods (Lumber and…
Q: Give a definition of an advance in technology. Suppose that you are drawing a PPF for civilian goods…
A: Advance in technology can be understood when the same amount of resources is able to more than…
Q: So what is true about this combination of fish and water? The combination of 4 fish & 4 bottles of…
A: The production possibility frontier (PPF) represents different combination of two goods that can be…
Q: The following graph shows the production possibilities curve (PPC) of an economy that produces…
A: PPC shows combinations of two outputs that can be produced with the given level of resources and…
Q: Imagine that it takes an average Australian miner 10 hours to mine a metric ton of coal and 20 hours…
A: A country, that can produce a good or service at less opportunity cost than the other country, is…
Q: Which country has an absolute advantage in the production of fruit? Which country has an absolute…
A: Hi, thank for the question. Since there are multiple sub-parts are posted, we will answer first…
Q: A В C D E F G Trucks 20 28 35 40 43 45 Cars 54 52 49 43 35 25 How could the PPC shift to the left?
A: Production possibility curve: - it is the graphical representation of different combinations of two…
Q: iv. Which country has the Comparative advantage in chairs? v. If each country has 10 workers who can…
A: Absolute advantage is the ability to produce a good using fewer inputs than another producer, while…
Q: What would it mean if the production possibilities Frontier (PPF) were bowed inward (convex),as…
A: PPF is the production possibility frontier of the economy which shows the possible combinations of…
Q: New Zealand in one year can raise 75 tons of beef or produce 750 boxes of tulips. In the same…
A: Answer: Given, Beef (tons) Tulips (boxes) New Zealand 75 750 Belgium 40 650 Let us first…
Q: Use the diagram below to answer the questions that follow. (a) What change could cause the PPF…
A: PPF i.e production possibility frontier shows all the possible combinations of the goods that the…
Q: 14. Which of the following is correct? a. The PPF must be concave. b. The PPF must be a straight…
A: NOTE: We'll answer the first question as the exact one is not specified. Please submit a new…
. Why does the shape of a PPC for individuals differ from that of the economy as a whole?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- What is ppc?Use the following Production Possibilities Graph to explain the concepts of scarcity, choice, and opportunity cost and how they relate to decision making. Be sure to specify how the PPF graph inllustrates each concept and include numerical values. 30 05 10 06 15 0.0 16 20 18 Guns Butter 20 16 16 12 14 4 • Guns (Protective Goods) vs Butter (Consumer Goods) (In billions of metric tons) 2 ° 2 GunsUse the diagram below to answer the question. Facemask 1200 1000 800 600 400 200 A 0 A PPF 32 200 400 600 800 1000 1200 Ventilator Hospitaland produces and consumes two goods, facemasks and ventilators, by using two inputs, labor and capital. The production possibilities frontier of Hospitaland is shown above. . Under autarky (in absence of trade), Hospitaland produces and consumes a combination of facemasks and ventilators at Point A. At Point A, a relative price of ventilator (Pventilator/Pfacemask) is (Answer up to the first decimal place: e.g. 12.3)
- What information additional information (besides what is shown in the PPC) would be needed for the government to make the right decision about how to spend its money? Explain. C. wwollat ob lobo 1erw wonkUse the following Production Possibilities Graph to explain the concepts of scarcity, choice, and opportunity cost and how they relate to decision making. Be sure to specify how the PPF graph inllustrates each concept and include numerical values. Butter | 3 25 == 05 15 10 == 1.5 0.0 1.6 Guns 0 2 3 4 Butter 20 12 ● 20 18 16 14 12 4 2 0 Guns (Protective Goods) vs Butter (Consumer Goods) (In billions of metric tons) 1 2 Guns 3. Explain two causes of a shift in a PPC.
- Consider two neighboring island countries called Contente and Euphoria. They each have 4 million labor hours available per month that they can use to produce corn, jeans, or a combination of both. The following table shows the amount of corn or jeans that can be produced using 1 hour of labor. ols Corn Jeans Country (Bushels per hour of labor) (Pairs per hour of labor) Contente 16 A-Z Euphoria 20 Initially, suppose Contente uses 1 million hours of labor per month to produce corn and 3 million hours per month to produce jeans, while Euphoria uses 3 million hours of labor per month to produce corn and 1 million hours per month to produce jeans. Consequently, Contente produces million bushels of corn and 48 million pairs of jeans, and Euphoria produces 15 million bushels of corn and 20 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of corn and jeans it produces. ▼…b. Illustrate a PPC for cars and books. c. Give economic meaning to this PPC. d. Illustrate and explain how a decrease in the desire to read books will affect this PPC.Between a straight line PPF and concave PPF, which one is more realistic? Why? Explain with example and graph.
- Brother i need these graphs to be more detailed please sir at least the PPF oneA В C E F G Trucks 20 28 35 40 43 45 Cars 54 52 49 43 35 25 How could the PPC shift to the left?1. PPF and CPF Josel's PPF is defined by Qosel F Josel and Kayla can produce food and luxury goods. Kayla 12-3Qosel and Kayla's PPF is defined by Qa 12 - 3Q Kayla Suppose that Josel and Kayla trade with each other (i.e., no outside merchants). Kayla and Josel agree to trade under the following conditions: 1) the terms of trade are 1 unit of food in exchange for 1 unit of luxury goods; 2) each specializes according to his/her comparative advantage; and 3) Kayla consumes 3 units of the good she produces. (a) = Sketch on two different graphs (one for Josel and one for Kayla) the individual PPFs, the individual CPFs, and indicate the individual points of pro- duction and the individual points of consumption. Clearly label your graphs (i.e., indicate values for slopes, intercepts, points of production, and points of consump- tion).