The "Law of Increasing Opportunity Costs" makes the PPF curve bow outward. This would cause the bow of the PPF curve to expand in which direction when looking at it? A. left B. centre C. right
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- bongo O Topic: H G How wc A Recorde * Min x b Answere A Files A Grades Q ETX 20 Q Midtern Q ETX 20 Q ЕTX 20 M Inbox (7 A Assignn C Crunch N Netflix O (5) COA ng.cengage.com/static/nb/ui/evo/index.html?deploymentld=5983131871027318950422967971&elSBN=97803571336688&id=D1056367112&isnapshotld=2191097& Update : Geoffrey v CENGAGE MINDTAP Q Search this course A My Home Homework (Ch 16) The following graph shows the money market in equilibrium at an interest rate of 7.5% and a quantity of money equal to $60 billion. Courses Show the impact of the increase in government purchases on the interest rate by shifting one or both of the curves on the following graph. O Catalog and Study Tools A-Z Partner Offers EE Rental Options 15.0 Money Supply - College Success Tips 12.5 Money Demand Career Success Tips RECOMMENDED FOR YOU 10.0 Money Supply 7.5 5.0 Evaluating Online Money Demand Information 2.5 e Help 20 40 60 80 100 120 Give Feedback MONEY (Billions of dollars) Suppose that for each…A Appl A Acti Sear x G dicti - Clas X E Stoc x S Sear A Socr x * http oms die IFAlpOLSeafd7pY 4JrnNm2YBVXfCofLt9k3KwA8ZPyAcexBZXgQKw/viewform?hr_submission=Ch ESEAINKOT38AWSBW in moodle G dictionary english a.. StudentVUE E is A Minnesota State Ap. A Application | Status. oom A Apply to Augsi TLIS a stOCK Index 5. Amazon, Disney and Target are examples of * Venture Capital companies O Risky investments Fortune 500 or "Blue Chip" stocks Mutual Funds US acer & 5 7 8What does a production possibilities frontier illustrate?
- EX LO d @ Safari File Edit View History Bookmarks Window Help Lily ✓ My Home Courses Rental Options V Catalog and Study Tools Dashboard College Success Tips Help Career Success Tips Give Feedback « 100 CENGAGE MINDTAP PISTACHIOS (Millions of pounds) 48 42 36 Homework (Ch 03) The following graphs show the production possibilities frontiers (PPFS) for Shenandoah and Denali. Both countries produce peas and pistachios, each initially (i.e., before specialization and trade) producing 18 million pounds of peas and 9 million pounds of pistachios, as indicated by the grey stars marked with the letter A. 30 24 18 PPF 12 6 0 0 C Mind Tap - Cengage Learning 6 S Shenandoah A 12 18 24 30 PEAS (Millions of pounds) 36 42 48 ? JAN 28 PISTACHIOS (Millions of pounds) 48 42 36 30 24 6 C MindTap - Cengage Learning 0 ng.cengage.com PPF 6 Denali A 12 18 24 30 36 PEAS (Millions of pounds) 42 48 Shenandoah has a comparative advantage in the production of while Denali has a comparative advantage in the…An economy produces two goods ,X and Y .lt uses two means of production, labour and capital. A unit of labour can produce either 1unit of X or 4units of Y (or linear combination of the two).A unit of capital can produce either 4units of X or 1unit of Y (or linear combination of the two)there are 100units of each means of production. (i) Draw the production possibility frontier of the economy when the two goods can only be produced by a mixture of both factors. (ii)What will be the opportunity cost of X if the economy produces 50units of X ? (iii) Given that the production technology is linear ,will the opportunity cost of X remain unchanged when we produce 90units of X ? (iv)Briefly explain the difference between the PPC with a constant opportunity cost and the PPC with an increasing opportunity cost as more output of one good is produced. Use a well labeled diagram to explain your answer?QUESTION 10 product Y product Y 28 # 20 16 12 8 4 0 28 20 16 12 8 4 0 0 Fig. A Production Possibilities Frontier PPFO PPFO 4 8 PPFn 8 12 Fig. C Production Possibilities Frontier PPFn 16 12 Point E 20 16 24 product X Point E 20 product Y product Y 4 20 16 12 8 4 0 28 20 16 12 8 4 0 O 0 Fig. B Production Possibilities Frontier PPFO 4 PPFO PPFn 8 12 Fig. D Production Possibilities Frontier PPFn Point E 12 16 24 product X 16 20 Point E 20 24 product X 24 product X 10. Which of the above figures represents economic growth caused by an increase of resources specific to the production of product Y? (a) FIGA O (b) FIG B (c) FIG C O (d) FIG D
- QUESTION 9 product Y product Y 28 # 20 16 12 00 8 4 0 28 24 20 16 12 8 4 0 0 Fig. A Production Possibilities Frontier 4 PPFO PPFO 4 8 PPFn 8 12 Fig. C Production Possibilities Frontier PPFn 16 12 Point E 20 24 product X 16 Point E 20 product Y 2 product Y 28 20 16 12 8 4 0 20 16 12 8 4 0 0 Fig. B Production Possibilities Frontier 0 PPFO 4 8 4 PPFo PPFn 12 8 24 product X 09. In figure A the shift of the Production Possibilities Frontier outward would be best explained by: O (a) a movement towards efficient production. O (b) an increase in demand for both products. (c) an increase in specialization of resources. O (d) an increase in available resources specific to the production of good X. (e) an increase in available resources specific to the production of good Y. Fig. D Production Possibilities Frontier PPF 16 Point E 12 20 24 product X 16 Point E 20 24 product XYou just got a job in Washington, D.C. You moveinto an apartment with some acquaintances. All yourroommates, however, are slackers and do not clean upafter themselves. You, on the other hand, can clean fasterthan each of them. You determine that you are 70%faster at dishes and 10% faster with vacuuming. All ofthese tasks have to be done daily. Which jobs shouldyou assign to your roommates to get the most free timeoverall? Assume you have the same number of hours todevote to cleaning. Now, since you are faster, you seemto get done quicker than your roommate. What sortsof problems may this create? Can you imagine a traderelated analogy to this problem?Panel (a) Panel (b) ↑sefas 28 sofas 26 26 A 24 24 22 22 20 20 18 18 16 16 14 14 12 12 10 10 8 8 6 4 4 2 tractors 1 2 7 8 tractors 2 3 4 5 6 Refer to Figure 2-10, Panel (a) and Panel (b). Which of the following is not a result of the shift of the economy's production possibilities frontier from Panel (a) to Panel (b)? O a. The tradeoff between the production of tractors and sofas changes. O b. Production of 2 tractors and 10 sofas becomes efficient. O c. Production of 6 tractors and 14 sofas becomes possible. O d. The opportunity cost of a sofa is higher at all levels of sofa production.
- Four roommates are planning to spend the weekendin their dorm room watching old movies, and theyare debating how many to watch. Here is theirwillingness to pay for each film:Dwayne Javier Salman ChrisFirst film $7 $5 $3 $2Second film 6 4 2 1Third film 5 3 1 0Fourth film 4 2 0 0Fifth film 3 1 0 0a. Within the dorm room, is the showing of a moviea public good? Why or why not?b. If it costs $8 to stream a movie, how many moviesshould the roommates stream to maximize totalsurplus?c. If they choose the optimal number from part (b)and then split the cost of streaming the moviesequally, how much surplus does each personobtain from watching the movies?d. Is there any way to split the cost to ensure thateveryone benefits? What practical problems doesthis solution raise?e. Suppose they agree in advance to choose theefficient number and to split the cost of the moviesequally. When Dwayne is asked his willingness topay, will he have an incentive to tell the truth? Ifso, why? If not, what will he…Chile's Production Possibilities Frontier Colombia's Production Possibilities Frontier ↑soydeans TEx pounds) ↑ soydeans 20 (in pounds) 18 18 16 16 14 14 12 12 10 10 6 4- +%> 16 18 20 coffee (in pounds 2 4 8 10 12 14 2 4 6 8 10 12 14 16 18 20 coffee spunod ng) Refer to Figure 3-8. If the production possibilities frontiers shown are each for one day of production, then which of the following combinations of pounds of coffee and pounds of soybeans could Chile and Colombia together not make in a given day? O a. 4 pounds of coffee and 17 pounds of soybeans O b. 8 pounds of coffee and 14 pounds of soybeans O . 16 pounds of coffee and 9 pounds of soybeans O d. 24 pounds of coffee and 3 pounds of soybeansTable 1: Production Capacity of COVID-FREE LAND.Toilet Rolls Sanitizers30,000 028,000 1,00024,000 2,00018,000 3,00010,000 4,0000 5,000Use information in Table 1 above to answer the following questions: In your own words, while making use of the graph that you have created in part a, explain what the PPF is. Cleary state all assumptionsand properties of the PPF.
