Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Macroeconomics Expert

Problem:

Below is a production possibilities table for consumer good (automobiles) and capital goods (forklifts):

Production Alternatives                     

Types of production

A

B

C

D

E

Automobiles

0

2

4

6

8

Forklifts

30

27

21

12

0

a. Show these data graphically. On what specific suppositions is this production possibilities curve based?

b. If the economy is at point C, what is cost of one more automobile? Of one more forklift? Illustrate how the production possibilities curve reflects the law of increasing opportunity costs.

c. If the economy typified by this production possibilities table and curve were producing three automobiles and twenty forklifts, what could you wrap up about its use of its accessible resources?

d. What would production at the point outside the production possibilities curve indicate? What should take place before the economy can accomplish such a level of production?

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M910542

Have any Question? 


Related Questions in Macroeconomics

Suppose the governor of california has proposed decreasing

Suppose the governor of California has proposed decreasing toll rates on California's toll roads and has presented two possible scenarios to implement these increases. The following are projected data for the two scenari ...

Suppose johns utility function is u ln2c where c is the

Suppose John's utility function is U = ln(2C) where C is the amount of consumption John has in any given period. John's income is $100,000 per year and there is a 3% chance that he will be involved in a catastrophic acci ...

The simple interest for buying a passenger transit rail is

The simple interest for buying a passenger transit rail is shown as the product of the principle amount (P), time (in years), and annual rate (R). The City of Phoenix plans to buy five additional mass transit cars for $1 ...

A number ofnbspcurrency crisesnbsphave affected certain

A number of  currency crises  have affected certain countries, which have also resulted in contagion in the sense that the crises affected neighboring countries. In a critical essay,  select a country (or countries) affe ...

Assignmentfor this submission you will need to find a topic

Assignment For this submission, you will need to find a topic of interest related to race and ethnicity, social change, or both. You may come up with a topic of your own, or choose from the list below: - white privilege, ...

National hospital is the only employer of nurses in the

National Hospital is the only employer of nurses in the county of Castoria, and it acts as a profit-maximizing monopsonist in the market for nursing labor. The marginal revenue product for nurses is w = 50 2N, where w is ...

Pice discriminationassume that there is a single monopoly

Price Discrimination Assume that there is a single monopoly supplier of gadgets, but there are two distinct types of consumers, with the following individual demand curves: Type α: qα = 100 - 2pα Type β: qβ = 80 - 3pβ Th ...

This db has 3 parts21st century health priorities include

This DB has 3 parts. 21st Century health priorities include issues such as communicable diseases, occupational health, mental health, alcohol and drug abuse, and violence. Select one of these issues and discuss your thou ...

Economics assignment - answer all questionsquestion 1 study

ECONOMICS ASSIGNMENT - ANSWER ALL QUESTIONS QUESTION 1: Study the scenario below and complete the following tasks: Economic growth alongside reducing poverty South Africa's macroeconomic objectives include economic growt ...

Suppose that the market for corn is perfectly competitive

Suppose that the market for corn is perfectly competitive. If corn farmers are currently generating losses, then we would expect that in the long run the market? supply curve will shift to the left. supply curve will shi ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro