In the space below, you will draw a concave PPF for the imaginary country of Economia,...

In the space below, you will draw a concave PPF for the imaginary country of Economia, which produces just two goods: Bicycles (shown on the vertical axis ) and Skateboards (shown on the horizontal axis).

On this graph, show that Economia can:

Efficiently produce 75 bicycles when its production of skateboards is zero, and label this as point “A.”
Efficiently produce 50 bicycles when its production of skateboards is 100, and label this as point “B.”
Efficiently produce 25 bicycles when its production of skateboards is 130, and label this as point “C.”
Efficiently produce 132 skateboards if its production of bicycles is zero
Calculate the average opportunity cost for a skateboard as production of this good increases from point A to point B (i.e., from 0 to 100 skateboards)

Calculate the average opportunity cost for a skateboard as production of this good increases from point B to point C.

Calculate the average opportunity cost for a skateboard as production of this good increases from point C to point D.

As the production of skateboards increases, what happens to the opportunity cost for this product? Explain.

Expert Solution

Rahul Sunny answered 1 year ago

In the space below you will draw two graphs, side by side. The graph on the...

In the space below you will draw two graphs, side by side. The graph on the left will show the production possibilities frontier (PPF) for the U.S. and the graph on the right will show the PPF for Brazil. Assume that each of these countries produces only two goods: Jets and helicopters. For both countries you will show the quantity of jets produced on the vertical axis and the quantity of helicopters produced on the horizontal axis. Draw a straight-line...

True/False. Explain. If a PPF is concave, then this reflects the principle of decreasing opportunity cost and...

True/False. Explain. If a PPF is concave, then this reflects the principle of decreasing opportunity cost and can be explained by perfect transferences of resources.

The table below contains the Production Possibilities Frontier (PPF) data for Country ABC. It contains the...

The table below contains the Production Possibilities Frontier (PPF) data for Country ABC. It contains the maximum possible combinations of guns and butter that can be produced in a given period of time: Units of Guns (thousands) Units of Butter (kilos) 14 5 11 6 9 8 8 11 A. What is the opportunity cost of moving from producing 9 thousand units of guns to 14 thousand units of guns stated in terms of 1 unit of guns? B. Explain...

In the space below you will again draw two graphs, side by side. The graph on...

In the space below you will again draw two graphs, side by side. The graph on the left will show the production possibilities frontier (PPF) for Country A and the graph on the right will show the PPF for Country B. Assume that each of these countries produces only two goods: Fish and broccoli. For both countries you will show the quantity (in pounds) of fish produced on the vertical axis and the quantity (pounds) of broccoli produced on the...

Suppose that you collect the following data from the imaginary country of Econoland. There is a...

Suppose that you collect the following data from the imaginary country of Econoland. There is a total population of 10,000. 3,000 are children under the age of 16, 1,000 people in the military, and no people in prison due to a recent reform of the criminal justice system. Of the remaining 6,000 people, 3,000 currently have a job, 1,000 are actively looking for a job, 1,000 would like a job but have given up looking, and 1,000 are retired and...

Question 1 In the space below you will draw two graphs, side by side. The graph...

Question 1 In the space below you will draw two graphs, side by side. The graph on the left will show the production possibilities frontier (PPF) for the U.S. and the graph on the right will show the PPF for Brazil. Assume that each of these countries produces only two goods: Jets and helicopters. For both countries you will show the quantity of jets produced on the vertical axis and the quantity of helicopters produced on the horizontal axis. Draw...

Complete the following table then draw the complete circular flow diagram in the space below for...

Complete the following table then draw the complete circular flow diagram in the space below for each row: (consult your notes for the abbreviations. Each row is independent of the others) Y C I G T S Import Export NX NCO Row 1 1000 800 400 400 850 700 Row 2 1500 750 250 500 400 -200 2.Critical Thinking: Let’s make it as realistic as possible to the US. In 2018, the US had both a government and trade deficit. With that in mind,...

In the space below, draw a firm’s isocost/isoquant diagram with K on the vertical axis and...

In the space below, draw a firm’s isocost/isoquant diagram with K on the vertical axis and L on the horizontal axis. Show the change that would occur if capital became more expensive and the firm maintained the same total cost. Be sure to show how each curve changes. To the right of the graph, clearly indicatewhat happens to the level of output and use of both L and K, and whether you are showing L and K as substitute inputs or complementary...

3. In the space below draw a typical nerve action potential, and identify the important components...

3. In the space below draw a typical nerve action potential, and identify the important components discussed in class. Next, explain in detail the physiological mechanisms (diffusion, concentration gradients, gates. etc) responsible for causing an action potential. Lastly, compare and contrast conduction in myelinated vs. unmyelinated neurons.

What happens to a country’s Production Possibilities Frontier (PPF) if the country faces a war or...

What happens to a country’s Production Possibilities Frontier (PPF) if the country faces a war or natural disaster such as a hurricane or an earthquake? Explain

Question