EBK ECONOMICS
20th Edition
ISBN: 9780077660710
Author: McConnell
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 1.2, Problem 3QQ
To determine
Production possibility frontier .
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QUESTION 7
Olivia and Susan operate a store that sells burritos. There are two main activities: chopping up the ingredients and then cooking the fillings
for the burritos. Olivia and Susan are deciding who should chop the ingredients and who should cook the fillings in order to maximise
output.
Olivia
Susan
Chopped Food
(kg/hr)
15
20
Cooked Food
(kg/hr)
20
30
Which of the following statements are true:
For Olivia, the opportunity cost of 1kg of cooked food is 1.33kgs (to 2 decimal places) of choppectood.
For Susan, the opportunity cost of 1kg of cooked food is 0.67kgs (to 2 decimal places) of chopped food.
Susan should specialise in chopping.
Olivia has an absolute advantage in chopping.
Com
120.000
80.000
40.000
Robots
5.000
10.000
15.000
In the graph above, the opportunity cost of producing one more robot is
A
1 corn.
8 corn.
5,000 corn.
15,000 corn.
Alternative ways of making 100 shirts a day are in the table below:
Method
Labor (hours)
Capital (machines)
A
10
50
B
20
40
C
50
20
D
100
10
Â
1. Which methods are technologically efficient?
Chapter 1 Solutions
EBK ECONOMICS
Ch. 1.2 - Prob. 1QQCh. 1.2 - Prob. 2QQCh. 1.2 - Prob. 3QQCh. 1.2 - Prob. 4QQCh. 1.A - Prob. 1ADQCh. 1.A - Prob. 2ADQCh. 1.A - Prob. 3ADQCh. 1.A - Prob. 1ARQCh. 1.A - Prob. 2ARQCh. 1.A - Prob. 1AP
Ch. 1.A - Prob. 2APCh. 1.A - Prob. 3APCh. 1.A - Prob. 4APCh. 1.A - Prob. 5APCh. 1.A - Prob. 6APCh. 1.A - Prob. 7APCh. 1.A - Prob. 8APCh. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - Prob. 3DQCh. 1 - Prob. 4DQCh. 1 - Prob. 5DQCh. 1 - Prob. 6DQCh. 1 - Prob. 7DQCh. 1 - Prob. 8DQCh. 1 - Prob. 9DQCh. 1 - Prob. 10DQCh. 1 - Prob. 11DQCh. 1 - Prob. 1RQCh. 1 - Prob. 2RQCh. 1 - Prob. 3RQCh. 1 - Prob. 4RQCh. 1 - Prob. 5RQCh. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - Prob. 1PCh. 1 - Prob. 2PCh. 1 - Prob. 3PCh. 1 - Prob. 4PCh. 1 - Prob. 5PCh. 1 - Prob. 6PCh. 1 - Prob. 7PCh. 1 - Prob. 8P
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