Question
In: Economics
Suppose a British Columbia has a total of 12 units of labour, which can be used...
Suppose a British Columbia has a total of 12 units of labour,
which can be used
to produce either computer or wheat. One computer takes 6 units of
labour to produce and 100 kg wheat
takes 2 units of labour to produce.
(a) Explain why scarcity exists in this economy. Use the data as
evidence of your reasoning. (4)
(b) What is the maximum quantity of computers that can be produced?
(3)
(c) What is the maximum quantity of wheat than can be produced?
(3)
(d) Draw the BC’s production possibility curve. (3)
(e) What is the opportunity cost of computers in BC? (3)
(f) Explain why BC can’t produce both 3 computers and 400 kg of
wheat. (3)
(g) Explain why the BC shouldn’t produce both 1 computer and 200 kg
of wheat. (3)
Solutions
Rahul Sunny answered 1 year agoRelated Solutions
Suppose a British Columbia has a total of 12 units of labour, which can be used...
Suppose a British Columbia has a total of 12 units of labour,
which can be used
to produce either computer or wheat. One computer takes 6 units
of labour to produce and 100 kg wheat
takes 2 units of labour to produce.
(a) Explain why scarcity exists in this economy. Use the data as
evidence of your reasoning.
(b) What is the maximum quantity of computers that can be
produced?
(c) What is the maximum quantity of wheat than can...
Question 1 (23 marks) Suppose a British Columbia has a total of 12 units of labour,...
Question 1 Suppose a British Columbia has a total of
12 units of labour, which can be used to produce either computer or
wheat. One computer takes 6 units of labour to produce and 100 kg
wheat takes 2 units of labour to produce. (a) Explain why scarcity
exists in this economy. Use the data as evidence of your reasoning.
(5) (b) What is the maximum quantity of computers that can be
produced? (3) c) What is the maximum quantity...
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operation in British Columbia that produces one of its more popular
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