Microeconomics (7th Edition)
7th Edition
ISBN: 9780134737508
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Chapter 2, Problem 2.1.10PA
Subpart (a):
To determine
Production possibilities frontier for score of economics exam and score of chemistry exam.
Subpart (b):
To determine
Production possibilities frontier for score of economics exam and score of chemistry exam.
Subpart (c):
To determine
Production possibilities frontier for score of economics exam and score of chemistry exam.
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You have exams in economics and chemistry coming up and five hours available for studying. The following table shows the trade-offs you face in allocating the time you will spend in studying each subject.
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a. Use the data in the table to draw a production possibilities frontier graph. Label the vertical axis “Score on economics exam” and label the horizontal axis “Score on chemistry exam”. Make sure to label the values where your production possibilities frontier intersects the vertical and horizontal axes.
b. Label the points representing choice C and choice D. If you are at choice C, what is your opportunity cost of increasing your chemistry score?
c. Under what circumstances would A…
Beth can read 30 pages of astronomy in an hour. She can also read 20 pages of sociology in an hour. She spends 6 hours per day studying.
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Diagram has Astronomy Pages on the left from 0-200 in increments of 20's
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B
Points A, B, C, and D because they are attainable.
Points B, C, and D because this is where maximum output is produced with available resources.
Point A because it is inside the production possibilities frontier.
Point E because it is where the most capital and consumption goods combined are produced.
A
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Which point(s) are inefficient? Briefly explain why.
PPF
O A. Points B, C, and D because they are on the production possibilities frontier.
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Chapter 2 Solutions
Microeconomics (7th Edition)
Ch. 2 - Prob. 1TCCh. 2 - Prob. 2TCCh. 2 - Prob. 2.1.1RQCh. 2 - Prob. 2.1.2RQCh. 2 - Prob. 2.1.3RQCh. 2 - Prob. 2.1.4PACh. 2 - Prob. 2.1.5PACh. 2 - Prob. 2.1.6PACh. 2 - Prob. 2.1.7PACh. 2 - Prob. 2.1.8PA
Ch. 2 - Prob. 2.1.9PACh. 2 - Prob. 2.1.10PACh. 2 - Prob. 2.1.11PACh. 2 - Prob. 2.1.12PACh. 2 - Prob. 2.1.13PACh. 2 - Prob. 2.1.14PACh. 2 - Prob. 2.2.1RQCh. 2 - Prob. 2.2.2RQCh. 2 - Prob. 2.2.3PACh. 2 - Prob. 2.2.4PACh. 2 - Prob. 2.2.5PACh. 2 - Prob. 2.2.6PACh. 2 - Prob. 2.2.7PACh. 2 - Prob. 2.2.8PACh. 2 - Prob. 2.2.9PACh. 2 - Prob. 2.2.10PACh. 2 - Prob. 2.2.11PACh. 2 - Prob. 2.2.12PACh. 2 - Prob. 2.2.13PACh. 2 - Prob. 2.2.14PACh. 2 - Prob. 2.2.15PACh. 2 - Prob. 2.3.1RQCh. 2 - Prob. 2.3.2RQCh. 2 - Prob. 2.3.3RQCh. 2 - Prob. 2.3.4RQCh. 2 - Prob. 2.3.5RQCh. 2 - Prob. 2.3.6RQCh. 2 - Prob. 2.3.7PACh. 2 - Prob. 2.3.8PACh. 2 - Prob. 2.3.9PACh. 2 - Prob. 2.3.10PACh. 2 - Prob. 2.3.11PACh. 2 - Prob. 2.3.12PACh. 2 - Prob. 2.3.13PACh. 2 - Prob. 2.3.14PACh. 2 - Prob. 2.3.15PACh. 2 - Prob. 2.3.16PA
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