SECTION#\\00 NAME_OiNa.Noemi PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 7 through 10. Can Openers 14,000 12,000 10,000 8,000 6,000 PPF2 4,000 Hoi miog PHF1 2,000 1 2 3 4 5 6 7 8 Drill Presses 7. On PPF1, all of the following output combinations are currently attainable except: 12,000 can openers and 0 drill presses. 10,000 can openers and 6 drill presses. 4,000 can openers and 6 drill presses. 0 can openers and 7 drill presses. a. eimoo da 8bnn A C. d. irta can openers. 8,000 On PPF1, the opportunity cost of the 7th drill press is approximately 4,000 8. d. 6,000 b. C. 2,000 a. An increase from PPF1 to PPF2 makes it possible to produce approximately 9. additional can openers if 7 drill presses are produced. 4,000 5,000 b. C. d. 2,000 7,000 a. All of the following events would lead to a shift from PPF1 to PPF2 except: 10. Improved technology An increase in the size of the labor force A decrease in the capital stock caused by depreciation of machines and tools Greater investment in education leading to a more productive workforce a. b. d. o-bowod s

SECTION#\\00 NAME_OiNa.Noemi PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 7 through 10. Can Openers 14,000 12,000 10,000 8,000 6,000 PPF2 4,000 Hoi miog PHF1 2,000 1 2 3 4 5 6 7 8 Drill Presses 7. On PPF1, all of the following output combinations are currently attainable except: 12,000 can openers and 0 drill presses. 10,000 can openers and 6 drill presses. 4,000 can openers and 6 drill presses. 0 can openers and 7 drill presses. a. eimoo da 8bnn A C. d. irta can openers. 8,000 On PPF1, the opportunity cost of the 7th drill press is approximately 4,000 8. d. 6,000 b. C. 2,000 a. An increase from PPF1 to PPF2 makes it possible to produce approximately 9. additional can openers if 7 drill presses are produced. 4,000 5,000 b. C. d. 2,000 7,000 a. All of the following events would lead to a shift from PPF1 to PPF2 except: 10. Improved technology An increase in the size of the labor force A decrease in the capital stock caused by depreciation of machines and tools Greater investment in education leading to a more productive workforce a. b. d. o-bowod s

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 24RQ: What is a production technology?

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