Homework Answers
Answer 1
Option c) F
Reason: Point F (10,4) is an inefficient level of production as this point is not on the Production Possibility Frontier but below it. This means that the economy is not utilizing all its resources efficiently.
Answer 8
Option a) The quantity demanded increases to 1000 cars.
Reason:
When price decrease quantity demanded increases. This is what happens when price falls from $8000 to $7000.
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Production Possibility Frontier - Country X A B 15,1 10,6 09 Watches daily production с 4...
Production Possibility Frontier-Country X 9 A 15,7 10,6 15, 4 10,4 18, 2 20,0 20 10...
Production Possibility Frontier-Country X 9 A 15,7 10,6 15, 4 10,4 18, 2 20,0 20 10 15 25 MP3 Players Daily production Consider the Production Possibility Frontier for country X producing 2 groups of goods, MP3 players and watches. The opportunity cost of moving from the combination of MP3 players and watches B to C is 2 watches. 4 watches. O 5 MP3 players
Production Possibility Frontier-Country X 9 A 15,7 6 10,6 15,4 18, 2 20, 0 20 5...
Production Possibility Frontier-Country X 9 A 15,7 6 10,6 15,4 18, 2 20, 0 20 5 10 15 25 MP3 Players Daily production Consider the graph of the production possibility frontier for country X. What would be a combination of watches and MP3 players that would meet the allocative efficiency of a country? O Any combination on the production possibilities frontier that brings the highest level of satisfaction to meet the needs of the people in the economy O Point...
Consider the graph of the production possibility frontier for country Z below. A combination of clothing...
Consider the graph of the production possibility frontier for
country Z below. A combination of clothing and cell phones that
would meet the productive efficiency would be:
G
F
E
Production Possibility Frontier - Country Z 9 A 15,7 10,6 15,4 41 10,4 18, 2 漉 20,0 20 15 25 Clothing - Daily production
This year three manufacturers of mattresses have closed shop and there is only one mattress manufacture...
This year three manufacturers of mattresses have closed shop and there is only one mattress manufacture left. With few additional competitors what will likely happen to the supply of mattresses? O The quantity demanded will decrease for mattresses The quantity supplied will increase and cause a decrease in price of mattresses O The quantity supplied will decrease and cause an increase in price of mattresses Production Possibility Frontier-Country X 9 A 15,7 10,6 15, 4 10,4 18, 2 20,0 20...
Question 14 1 pts Production Possibility Frontier-Country Z 9 A 15,7 6 10,6 15,4 10,4 10...
Question 14 1 pts Production Possibility Frontier-Country Z 9 A 15,7 6 10,6 15,4 10,4 10 15 20 25 Clothing-Daily production A combination of clothing and cell phones that would meet the allocative efficiency would be combination G because it represents the combination with the highest number of cell phones and clothing. combinations B or C because they represent a balanced quantity of cell phones and clothing. any combination on the production possibilities frontier that brings the highest level of...
Production Possibility Frontier-Country Z 9 A 15,7 6 10, 6 10,4 2 18, 2 20,0 10...
Production Possibility Frontier-Country Z 9 A 15,7 6 10, 6 10,4 2 18, 2 20,0 10 15 20 25 Clothing - Daily production Consider the graph of the production possibility frontier for country Z below. A combination of clothing and cell phones that would meet the productive efficiency would be O F O E O G
the marginal cost of sheep and lamb production is contant at $1000 per animal. If there...
the marginal cost of sheep and lamb production is
contant at $1000 per animal. If there were only one supplier of
sheep and lambs what would be the equilibrium price?
a 8000
b7000
c6000
d5000
e none
20. 21. Table 17.09 is Price Quantity $8000 7000 6000 5000 4000 5000 6000 7000 8000 9000 10,000 11,000 12,000 estion: 3000 nt at 2000 ve, 1000 e table 17.09 as a reference to answer
Draw a country's production possibilities frontier Question Assume India has the production possibilities to produce either...
Draw a country's production possibilities frontier Question Assume India has the production possibilities to produce either 20 bottles of milk using 50 worker hours or 25 cartons of eggs using 50 worker hours. If India decides to produce 15 bottles of milk, how many cartons of eggs can it produce? Place the moveable point at the coordinate that shows this production possibility. Make sure that the point's coordinates are exactly correct. Provide your answer below: Eggs (cartons) Production Possibility(15.1875) Milk...
Please help me with the Q7 Too. B foxto x = (40-10) xboxt-900 7) In the...
Please help me with the Q7
Too. B foxto x = (40-10) xboxt-900 7) In the market for used cars assumere there are 4 conusmers (A,B,C and D) and 4 sellers (Q,R,S and T). The marginal benefit that each consumer gets if she were to purchase the car is given below. The marginal cost for each additional car for each seller is is also given in the table below. MC MB $8000 $6000 $2500 $7000 $6500 IC $3000 $4000 $5000...
4. Suppose a factory produces inter-lock paving blocks for sale, which requires a building and a...
4. Suppose a factory produces inter-lock paving blocks for sale, which requires a building and a machine that produces blocks. A firm rents a building for Rs. 50,000 per month and rents a machine for Rs. 30,000 a month. Those are his fixed costs. His variable cost per month is given in the table below. Quantity of Blocks Variable cost (Rs.) 0 1000 5000 2000 8000 3000 10000 4000 14000 5000 19000 6000 27000 7000 40000 8000 60000 9000 90000...
Production Possibility Frontier-Country X 9 A 15,7 10,6 15, 4 10,4 18, 2 20,0 20 10 15 25 MP3 Players Daily production Consider the Production Possibility Frontier for country X producing 2 groups of goods, MP3 players and watches. The opportunity cost of moving from the combination of MP3 players and watches B to C is 2 watches. 4 watches. O 5 MP3 players
Production Possibility Frontier-Country X 9 A 15,7 6 10,6 15,4 18, 2 20, 0 20 5 10 15 25 MP3 Players Daily production Consider the graph of the production possibility frontier for country X. What would be a combination of watches and MP3 players that would meet the allocative efficiency of a country? O Any combination on the production possibilities frontier that brings the highest level of satisfaction to meet the needs of the people in the economy O Point...
Consider the graph of the production possibility frontier for
country Z below. A combination of clothing and cell phones that
would meet the productive efficiency would be:
G
F
E
Production Possibility Frontier - Country Z 9 A 15,7 10,6 15,4 41 10,4 18, 2 漉 20,0 20 15 25 Clothing - Daily production
This year three manufacturers of mattresses have closed shop and there is only one mattress manufacture left. With few additional competitors what will likely happen to the supply of mattresses? O The quantity demanded will decrease for mattresses The quantity supplied will increase and cause a decrease in price of mattresses O The quantity supplied will decrease and cause an increase in price of mattresses Production Possibility Frontier-Country X 9 A 15,7 10,6 15, 4 10,4 18, 2 20,0 20...
Question 14 1 pts Production Possibility Frontier-Country Z 9 A 15,7 6 10,6 15,4 10,4 10 15 20 25 Clothing-Daily production A combination of clothing and cell phones that would meet the allocative efficiency would be combination G because it represents the combination with the highest number of cell phones and clothing. combinations B or C because they represent a balanced quantity of cell phones and clothing. any combination on the production possibilities frontier that brings the highest level of...
Production Possibility Frontier-Country Z 9 A 15,7 6 10, 6 10,4 2 18, 2 20,0 10 15 20 25 Clothing - Daily production Consider the graph of the production possibility frontier for country Z below. A combination of clothing and cell phones that would meet the productive efficiency would be O F O E O G
the marginal cost of sheep and lamb production is
contant at $1000 per animal. If there were only one supplier of
sheep and lambs what would be the equilibrium price?
a 8000
b7000
c6000
d5000
e none
20. 21. Table 17.09 is Price Quantity $8000 7000 6000 5000 4000 5000 6000 7000 8000 9000 10,000 11,000 12,000 estion: 3000 nt at 2000 ve, 1000 e table 17.09 as a reference to answer
Draw a country's production possibilities frontier Question Assume India has the production possibilities to produce either 20 bottles of milk using 50 worker hours or 25 cartons of eggs using 50 worker hours. If India decides to produce 15 bottles of milk, how many cartons of eggs can it produce? Place the moveable point at the coordinate that shows this production possibility. Make sure that the point's coordinates are exactly correct. Provide your answer below: Eggs (cartons) Production Possibility(15.1875) Milk...
Please help me with the Q7
Too. B foxto x = (40-10) xboxt-900 7) In the market for used cars assumere there are 4 conusmers (A,B,C and D) and 4 sellers (Q,R,S and T). The marginal benefit that each consumer gets if she were to purchase the car is given below. The marginal cost for each additional car for each seller is is also given in the table below. MC MB $8000 $6000 $2500 $7000 $6500 IC $3000 $4000 $5000...
4. Suppose a factory produces inter-lock paving blocks for sale, which requires a building and a machine that produces blocks. A firm rents a building for Rs. 50,000 per month and rents a machine for Rs. 30,000 a month. Those are his fixed costs. His variable cost per month is given in the table below. Quantity of Blocks Variable cost (Rs.) 0 1000 5000 2000 8000 3000 10000 4000 14000 5000 19000 6000 27000 7000 40000 8000 60000 9000 90000...
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