Give me correct answer with full explanation otherwise i give multple downvoteNote:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. Production Possibilities Curve106876Сл5Investment Goods(units per time)S432101 2345 6 7 8 9 10Consumer Goods(units per time)Use the figure above to answer the following questions.Instructions: Enter your response as a whole number.a. What is the opportunity cost of increasing consumer goods from 5 units to 8 units?units of investment goodsb. What will happen to future production possibilities if investment increases now?Production possibilities will increase

Production Possibility Curve shows the different combinations of output achieved for a given level…

Investment Goods(units per time) 10 9 8 7 6 ம 4 3 Production Possibilities Curve 2 1 0 1 2 3 4 5 6 7 8 9 10 Consumer Goods(units per time) Use the figure above to answer the following questions. Instructions: Enter your response as a whole number. a. What is the opportunity cost of increasing consumer goods from 5 units to 8 units? units of investment goods b. What will happen to future production possibilities if investment increases now? Production possibilities will increase

Investment Goods(units per time) 10 9 8 7 6 ம 4 3 Production Possibilities Curve 2 1 0 1 2 3 4 5 6 7 8 9 10 Consumer Goods(units per time) Use the figure above to answer the following questions. Instructions: Enter your response as a whole number. a. What is the opportunity cost of increasing consumer goods from 5 units to 8 units? units of investment goods b. What will happen to future production possibilities if investment increases now? Production possibilities will increase

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter1: What Is Economics

Section: Chapter Questions

Problem 22AA

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8. What is economic?
Consider a society consisting only of Helen, who allocates her time between sewing dresses and baking bread. Each hour she devotes to sewing dresses yields 4 dresses and each hour she devotes to baking bread yields 8 loaves of bread. Suppose that a sewing machine is introduced that enables Helen to sew 8 dresses per hour rather than only 4. a. If Helen works a total of 8 hours per day, show how this development shifts her production possibilities curve on the graph below. Instructions: Use the tool provided to draw Helen's new PPC. Plot only the endpoints of this curve and locate these endpoints on the аxes. Helen's PPC 72 Тools 64 56 PPC2 48 40 32 24 16 8. 8. 16 24 32 40 48 56 64 72 Loaves of bread per day Dresses per day
What is the implication of a new technological change in the production on consumer.
4. Shifts in production possibilities Suppose the United States produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and cars, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of cars. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. 480 PPF 400 320 240 160 80 PPF 0. 90 180 270 360 450 540 WHEAT (Millions of bushels) CARS (Thousands)
Use the following graph to answer questions 2 and 3. Consumer Goods N (a) 7° (b) Capital Goods 2. Refer to the above production possibilities curves. Curve (a) is the current curve for the economy. Given production possibilities curve (a), point N suggests that the economy is: A) Attaining full employment but not full production B) Attaining full production but not full employment C) Using its available resources inefficiently D) Attaining both full employment and full production 3. Refer to the above production possibilities curves. Curve (a) is the current curve for the economy. A shift from curve (a) to curve (b) suggests: A) A shift from unemployment to full employment B) An improvement in capital goods technology but not in consumer goods technology C) An improvement in consumer goods technology but not in capital goods technology D) A change in the needs and wants of the society
38// Assume that a consumer has a given budget or income of $10 and that she can buy only two goods, apples or bananas. The price of an apple is $2.00 and the price of a banana is $1.00. For this consumer, the opportunity cost of buying one more apple is
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.
You have exams in economics and chemistry coming up and 5 hours available for studying. The following table shows the trade-offs you face in allocating the time you will spend in studying each subject. 99- 97- Hours Spent Studying Choice Economics Chemistry Economics Chemistry Midterm Score 95- 93 98 75 91- B 4. 1. 95 82 3 92 88 89 87 82 92 94 D 87- E 4 F 5 75 95 83- Use the multipoint curve drawing tool to plot a production possibilities frontier showing the trade-off between your economics grade and chemistry grade. Plot all choices A through F. Properly label this curve. Carefully follow the instructions above, and only draw the required objects. 81- 79- 77- 75 75 77 79 81 83 85 87 80 01 93 05 97 99 Score on chemistry exam After plotting the final point of your multipoint curve, press the Esc key or use a long press on the last point to end the line. Score on economics exam
4. Shifts in production possibilities Suppose the United Kingdom produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for barley, an agricultural good, and cars, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of an immigration law that results in fewer workers entering the country. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. ? CARS (Thousands) 300 250 200 150 100 50 0 0 80 PPF 160 240 320 BARLEY (Millions of bushels) 400 480 6 PPF
Below is a production possibilities table for consumer goods (automobiles) and capital goods (forklifts): a. Show these data graphically. Upon what specifific assumptions is this production possibilities curve based?b. If the economy is at point C, what is the cost of one more automobile? Of one more forklift? Explain how the production possibilities curve reflfl ects the law of increasing opportunity costs.c. If the economy characterized by this production possibilities table and curve were producing 3 automobiles and 20 fork lifts, what could you conclude about its use of its available resources?d. What would production at a point outside the production possibilities curve indicate? What must occur before the economy can attain such a level of production?
Select the number of the question and the letter to indicate the answer you consider correctfor each question. Answers to all questions are to be recorded on the answer sheet. (Pleasenote - Do not submit the full question with a circle answer. ONLY the number and theletter).1. The Law of demanda. applies to final consumer goods but not to the productive resources purchased bybusiness firms.b. tells us how much of a good people want, but not necessarily how much of that good theyare willing to pay for.c. tells us that when the price of a good falls, quantity demanded will increase.d. applies only to goods that are not absolute necessities. 2. The law of supply states that all other things remaining the same:a. as the price of a good increases, supply of the good will increase.b. as the price of a good increases, the quantity of the good supplied willincrease.c. as the price of a good increases, demand for the good will increase.d. as the price of a good increases, the quantity of the…
Would a research study on the effects of soft drink consumption on childrens cognitive development he a positive or normative statement?