draw a production possibility frontier showing a combination of two goods that a country could produce and an area of inefficiency and another unattainable
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draw a production possibility frontier showing a combination of two goods that a country could produce and an area of inefficiency and another unattainable
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- Draw a production possibilities frontier with movies on the x-axis and other goods and services on the y-axis to illustrate increasing opportunity cost.Suppose a country is currently producing at a point on its production possibility frontier, and undertakes no trade with other countries. Then trade is opened up. Which of the following would not occur as a direct result?a) Its production possibility frontier would shift.b) Its production would shift to another point on its production possibility frontier.c) The pattern of products that the country produced would differ from the pattern that its consumers consumed.d) Consumers would be able to consume at a point outside the production possibility frontier. Please dont use any ai tool.Question 7 A Production Possibilities Frontier shows Group of answer choices all the combinations of two goods or services a person/country wants to consume. all the combinations of how much of two goods a person/country can produce when they trade. the tradeoff between how much the person/country likes two goods or services. all the combinations of two goods a person/country is able to produce with the resources it has.
- What is Production Efficiency and Inefficiency in economics? Explain with the help of a diagram. When does a country have a comparative advantage over producing a good? Explain with examples.A country produces two goods and the opportunity cost of production of each good is constant. This means that the production possibilities frontier (PPF) will be A bowed outward B positively sloped C bowed inward D a straight lineDraw a production possibility frontier showing the trade-off between the production of apples and the production of oranges
- An outward shift of a nation's production possibilities frontier can occur due toThis diagram represents the production possibility frontier of a Country. Point A has coordinates (0 S; 1.000 T) Point B has coordinates (2.000 S;OT) Point C has coordinates (1,200 5; 600 T) You are told that P(S)/P(T) is 0.5. What is the production point that is most likely to be chosen in equilibrium between A, B and C? GO 8 B SWith 1 resource unit 2 countries, A and B, are each capable of producing 2 goods, X and Y, according to the following production possibilities schedule. Country / good x y A 5 8 B 6 10 Develop a production possibilities graph for country A that shows with specialization and trade country A can consume outside of its PPF
- The figure below depicts the production possibilities curve (PPC) of a country. It also depicts the consumption possibilities curve (CPC) when the country is engaged in trade with one other country. Point C is this country's consumption when that trade occurs. Quantity of 350 good y 300 250 200 150 100 50 0 0 20 40 19 C 60 80 100 120 Quantity of good x Calculate how much this country trades with the other country in good y when the two countries engage in free trade. Enter a whole number only. Enter a positive number if this country exports good y, and a negative number if it imports it. Enter O if the answer cannot be obtained with the information given. Since this is a graphical question, approximate answers (within 20 of the exact answer) are accepted. Hint: consider how much the country produces and consumes this good.What can you say about all three of these Production Possibilities Frontiers?A point inside the production possibilities frontier is___ while a point outside the frontier is ____.
