In your explanation discuss what is efficient, inefficient and unobtainable. Which of the graphs in Figure 2-3 represent his production possibilities frontier? As you can see on the adjacent figure, this PPF (blue curve) slopes downwards. Answer: 39. The Following Table Represents 5 Points On A Production Possibilities Frontier (PPF) For A Firm Which Produces 2 Goods, X And Y. Refer to the table attached, which represents the production possibilities frontier for a country that produces only two goods, butter and guns. The production possibilities frontier represents Select one: a. the maximum rate of growth of capital and labor in a country. Due to scarcity of resources, we cannot satisfy all our wants. An economy is operating at full employment, and then workers in the bread industry are laid off. Explain the difference between a bowed out PPC and a straight line PPC. Exhibit 2-8 represents Robin Hood's production possibilities frontier.Assume that he currently produce at point C on the production possibilities frontier.If he wants to produce 5 more arrows,he has to give up producing A) 10 arrows B) 3 bows C) 9 bows D) 13 arrows E) 6 bows Define a production possibilities frontier (curve). Now let me show you the production possibility Frontier for these two devices on a graph. For our society to end up at a point along the production possibilities frontier we assume that resources are used A production possibilities frontier shows the possible combinations of goods and services that a society can produce with its limited resources. production possibility frontier, and the line labeled “Boeing’s new PPF ” represents the new production possibility frontier that results from an increase in resources available to Boeing. 2) (4 points) Draw a typical production possibilities frontier (PPF). 3 PRIM059 2.5 Any movement from one point on a production possibilities curve to another point on the curve involves opportunity cost. The production possibility curve represents graphically alternative produc­tion possibilities open to an economy. Refer to Figure 2-1. If you're seeing this message, it means we're having trouble loading external resources on our website. Draw a PPC demonstrating what a point on, inside and outside of the curve represents. Production Possibility Frontier (PPF) In the field of macroeconomics, the production possibility frontier (PPF) represents the point at which a country’s economy is most efficiently producing its goods and services and, therefore, allocating its resources in the best way possible. Producing one good always creates a trade off over producing another good. B)the maximum amount of resources available at any given time. D 8. The equation a LC Q C + a LW Q W = L is an equation of a line whose plot represents the country’s production possibility frontier (PPF). Figure 2-2 above shows the production possibilities frontier for Vidalia, a nation that produces two goods, roses and orchids. One cause could be the effects of natural disasters such as drought, earthquakes or severe floods which destroy built-up capital and potentially causes significant loss of life. Production Possibility Frontier (PPF), also known as Production Possibility Curve (PPC) is a concept that discusses this economic problem and illustrates how to make choices in a scarcity situation. Depending on the technology, the PPF will have a certain shape. protection for economic growth, now the production possibility frontier shows all the possible combination of economic output and environmental protection. A technological change that allows Boeing to build more small jets for any amount of Dreamliners built results in a change in its production possibility frontier (PPF). 2 rabbits and 240 berries. Graph C. An outward shift of a nation's production possibilities frontier can occur due to. What is the definition of production possibilities frontier?The production possibility frontier indicates the maximum production possibilities of two goods or services, assuming a fixed level of technology and only one choice between the two. So for example, we can't get a scenario like this. On the other hand, the Production Possibility Curve (PPC), also known as the Production Possibility Frontier or Boundary or the Transformation Curve shows the maximum combinations of two goods that a country can produce, with its given resources and at a given level of technology. 3 rabbits, and 180 berries. A given state of technology - the production possibilities frontier represents the technology available to producers. Allocative efficiency means that the particular mix of goods being produced—that is, the specific choice along the production possibilities frontier—represents the allocation that society most desires. Thus, all choices along a given PPF like B, C, and D display productive efficiency, but R does not. If opportunity costs are constant, the production possibilities frontier is graphed as a _____. 6) 7)The production possibilities frontier represents A)the maximum levels of production that can be attained. 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