14An island castaway spends 10 hours each day acquiring two items-coconuts and fish-based on the following production possibilitiesschedule.Production ScenarioCoconutsFish3025Skipped1512.3.a. From a starting point of production shown by scenario A, what is the castaway's opportunity cost of catching fish in terms of thenumber of coconuts sacrificed when moving from one scenario to the next?The opportunity cost of the first fish (scenario A to B) is coconuts.The opportunity cost of the second fish (scenario B to C) is cDconuts.The opportunity cost of the third fish (scenario C to D) iscoconuts.b: Do these results satisfy the law of increasing opportunity costs?(Click to select)C. A graph showing the castaway's production possibilities curve would have the shape (Click to select)d. Check off the assumptions below that must be met for the castaway to operate on his production possibilities curve. Cick to place acheckmark next to the applicable assumptions and cick twice to place blanks next to non-applicable assumptions Boxes containing a question mark wi score zero.The quantity of the castaway's resources is fixed.The casteway's technology is improving over time.The castaway's resources are emplayed to their full capecityThere are many goods produced2 The costaway likes fish and coconutse If the castaway works for 12 hours instead of 10 hours each day his production possibilities curve will (Click to select)only 8 hours a day his production possibilities curve will (Click to select)If he worksf. if the castaway manages to make a fishing rod which he then uses successfully to catch fish then the horizontal intercept of hisproduction passibilities curve, reflecting production of fish, will (Cick to select) and the vertical intercept of the curve, reflectingproduction of coconuts, will (Click to select)

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14 An island castaway spends 10 hours each day acquiring two items-coconuts and fish-based on the following production possibilities schedule. Production Scenario Coconuts Fish 30 25 oped 15 a. From a starting point of production shown by scenario A, what is the castaway's opportunity cost of catching fish in terms of the number of coconuts sacrificed when moving from one scenario to the next? The opportunity cost of the first fish (scenario A to B) is coconuts. The opportunity cost of the second fish (scenario B to g is cconuts The opportunity cost of the third fish (scenario C to D) is coconuts. b. Do these results satisfy the law of increasing opportunity costs? (Cick to select) c A graph showing the castaway's production possibilities curve would have the shape [(Click to select)

14 An island castaway spends 10 hours each day acquiring two items-coconuts and fish-based on the following production possibilities schedule. Production Scenario Coconuts Fish 30 25 oped 15 a. From a starting point of production shown by scenario A, what is the castaway's opportunity cost of catching fish in terms of the number of coconuts sacrificed when moving from one scenario to the next? The opportunity cost of the first fish (scenario A to B) is coconuts. The opportunity cost of the second fish (scenario B to g is cconuts The opportunity cost of the third fish (scenario C to D) is coconuts. b. Do these results satisfy the law of increasing opportunity costs? (Cick to select) c A graph showing the castaway's production possibilities curve would have the shape [(Click to select)

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains From Trade

Section: Chapter Questions

Problem 4PA

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What does a production possibilities frontier illustrate?
500 450 400 350- 300 250 Chris's Production Possibilities Frontier Katarina's Production Possibilities Frontier pizzas plazas 150 100- 50 100 150 200 250 300 350 400 meatballs 500 450- 400 350 300 250- 200- 150 100- 50- X a. 400 meatballs, 300 pizzas b. 550 meatballs, 250 pizzas c. 650 meatballs, 50 pizzas d. 500 meatballs, 200 pizzas 50 100 150 200 250 Refer to the Figure. If the production possibilities frontiers shown are each for one day of production, then which of the following combinations of meatballs and pizzas could Chris and Katarina together not produce in a given day?
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…
5. Opportunity cost and production possibilities Carlos is a skilled toy maker who is able to produce both trucks and drums. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Hours Producing Produced Choice (Trucks) (Drums) (Trucks) (Drums) A 8 4 B 2 10 4 4 2 15 D 6. 1 17 8 18 On the following graph, use the blue points (circle symbol) to plot Carlos's initial production possibilities frontier (PPF). (? 30 25 Initial PPF 20 New PPF 15 10 1 2 3 5 7 8 TRUCKS DRUMS 2.
The table below presents production schedule of apples and bananas in the country of mistania - assume that these are the only two goods that Mistania produces. Each row represents a specific set of apples and bananas that Mistania could produce. Suppose Mistania was currently at Senario C, producing 10 bananas and 80 apples. According to the data in this table, if Mistania wanted to produc 1 more banana, how many fewer apples will it need to produce? Scenario Bananas Apples A 0 100 B 5 90 C 10 80 D 15 70 E 20 60
Consider the production possibilities frontier in the figure shown. The opportunity cost of cars when moving from point B to point C: Cigars 4004 300 200 100 O a Ob OC Od 10 B C 20 30 D 40 Cars is greater than the opportunity cost of cars when moving from point A to point B. None of these statements are true. is less than the opportunity cost of cars when moving from point A to point. 8. is greater than the opportunity cost of cars when moving between any other two points.
1. The countries France and Italy produce Perfumes and Leather Coats using only labor as an input. AvailableLabor for France and Italy is 3000 and 1000 respectively. Unit of labor per Leather Coat in France is 6 units and inItaly are 2 units. France needs 2 units of labors to produce 1 bottle of Perfume and Italy needs 4 unit of labor. a) Draw the Production Possibility Curve by using relevant information. b) Which country has the comparative advantage in producing Perfume?
c. 36 pounds d. 48 pounds. IM IN+ 100 IN IM IM 140 130 130 110 100 w Chile's Production Possibilities Frontier NO PO H 12 60 30 ↑seps The #f Figure 3-19 open) d)) Refer to Figure 3-19. Colombia would incur an opportunity cost of 24 pounds of coffee if it increased its production of soybeans by & 12 pounds. b. 18 pounds +++ 244 10 12 14 16 18 20 On preds 9 T 6 3 * 3 2 Colombia's Production Possibilities Frontier ta * Refer to Figure 6-23. Which of the following is correct? a. The entire burden of the tax falls on sellers, and none of the burden of the tax falls on buyers. b. One-third of the burden of the tax falls on buyers, and two-thirds of the burden of the tax falls on sellers. c. One-half of the burden of the tax falls on buyers, and one-half of the burden of the tax falls on sellers. d. Two-thirds of the burden of the tax falls on buyers, and one-third of the burden of the tax falls on sellers. W 16+ 14+ 12 10 Oprund) 2 4 6 8 10 12 14 16 18 20 The following diagram shows the…
Dreamliners per period 18 16 12 8 4 8 dreamliners A 0 4 8 B QUESTION 15 Production levels to the right of the PPF are: O attainable efficient O inefficient. Ounattainable 12 Production possibility frontier E : F H ● The graph shows the PPF for Aeroland. Given the graph above, what is the opportunity cost of increasing Dreamliner production from 8 dream liners (point E) to 16 Dreamliners (point B)? O12 small jets O18 small jets O 6 small jets 16 18 20 Small jets per period
2. What economic opportunity cost in COVID 19?
14 The accompanying hypothetical production possibilities tables are for New Zealand and Spain. Each country can produce apples and plums. New Zealand's Production Possibilities Table polnts (Millions of Bushels) Production Alternatives Product D Аpples Plums 20 40 60 15 10 eBook Spain's Production Possibilities Table (Millions of Bushels) Production Alternatives Print Product R T Apples Plums 20 40 60 60 40 20 References a. Plot the production possibilities data for each of the two countries separately. Show the trading possibilities lines for each nation if the actual terms of trade are 1 plum for 2 apples. Instructions: (1) Use the tools provided, 'PPC NZ' and 'PPC SP (plot 4 points each) to draw the PPC curves. (2) Use the tool provided, 'ToT, in each diagram (plot 4 points each) to draw the trading possibilities lines for each nation. To earn full credit, you must correctly plot all points for each line. New Zealand Spain 80 Tools 140 Tools 120 60 PPC NZ ToT PPC SP To 100 80 40 60…
Suppose earlier they used to decide half of their in producing Apple pies and remaining half in producing Cupcakes. Now they have decided to "specialize" in accordance to their comparative advantages. Then in a work week that consists of 5 work days, the output of Apple pies and cupcakes will increase by the amount of b C Quantity of Apple Pies d 100 40 PPFDavid Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. 30 Apple pies and 100 Cupcakes respectively 200 Quantity of Cupcakes 200 Apple pies and 350 Cupcakes respectively PPFAlexis 150 Apple ples and 500 Cupcakes respectively 400 250 Apple pies and 100 Cupcakes respectively