184.Refer to Figure 2-5. The opportunity cost of this economy moving from point A to point B isa. 20 dryers.b. 20 washers.c. 20 dryers and 20 washers.d. 60 dryers.ANSWER:aDIFFICULTY:ModerateLEARNING OBJECTIVES:ECON.MANK.162 - Given a graph of a production possibilities frontier,determine the opportunity cost for producing each commodity.TOPICS:Production possibilities modelOpportunity costKEYWORDS:BLOOM'S: ApplicationCUSTOM ID:184.02.1 - MC - MANK08185.Refer to Figure 2-5. The opportunity cost of obtaining 40 additional dryers by moving from point D to point C isa. 0 washers.b. 20 washers.c. 40 washers.d. None of the above; the economy cannot move from point D to point C.ANSWER:dDIFFICULTY:ModerateLEARNING OBJECTIVES:ECON.MANK.162 - Given a graph of a production possibilities frontier,determine the opportunity cost for producing each commodity.TOPICS:Production possibilities modelOpportunity costKEYWORDS:BLOOM'S: ApplicationCUSTOM ID:185.02.1 - MC - MANK08186.Refer to Figure 2-5. The opportunity cost of obtaining 20 additional dryers by moving from point D to point A isa. 0 washers.b. 20 washers.c. 40 washers.d. None of the above; the economy cannot move from point D to point A.ANSWER:aDIFFICULTY:ModerateLEARNING OBJECTIVES:ECON.MANK.162 - Given a graph of a production possibilities frontier,determine the opportunity cost for producing each commodity.TOPICS:Production possibilities modelOpportunity costKEYWORDS:BLOOM'S: ApplicationCUSTOM ID:186.02.1 - MC - MANK08Figure 2-6 Show We have textbook solutions for you! The document you are viewing contains questions related to this textbook. Mathematical Applications for the Management, Life, and Social Sciences Harshbarger Expert Verified 187.Refer to Figure 2-6. If this economy devotes all of its resources to the production of blankets, then it will producea. 0 blankets and 360 pillows.b. 200 blankets and 240 pillows.c. 320 blankets and 120 pillows.d. 360 blankets and 0 pillows.ANSWER:dDIFFICULTY:ModerateLEARNING OBJECTIVES:ECON.MANK.037 - Construct a production possibilitiesfrontier.TOPICS:Production possibilities modelSpecializationKEYWORDS:BLOOM'S: ApplicationCUSTOM ID:187.02.1 - MC - MANK08188.Refer to Figure 2-6. If this economy devotes one-half of its available resources to the production of blankets and theother half to the production of pillows, it could producea. 120 pillows and 320 blankets.b. 180 pillows and 180 blankets.c. 240 pillows and 200 blankets.d. We would have to know the details of this economy’s technology in order todetermine this.ANSWER:dDIFFICULTY:ChallengingLEARNING OBJECTIVES:ECON.MANK.037 - Construct a production possibilitiesfrontier.TOPICS:Production possibilities modelKEYWORDS:BLOOM'S: AnalysisCUSTOM ID:188.02.1 - MC - MANK08 Recommended textbook solutions
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What is the opportunity cost of moving from point C to D?The opportunity cost of moving from point C to D is 40 tons of oranges. The per-unit opportunity cost of moving from point C to point D is 1/2 ton of oranges (40 tons of oranges/80 tons of pears). Economic growth is shown by a shift to the right of the production possibilities curve.
How to calculate opportunity cost?Opportunity cost is calculated by applying the following formula: Opportunity Cost = Return on Most Profitable Investment Choice - Return on Investment Chosen to Pursue.
What is the opportunity cost of increasing the production of butter from point C to point D?What is the opportunity cost of increasing the production of butter from point C to point D? (Increasing the production of butter by a unit, moving from point C to point D, results in an opportunity cost of 18−15 guns, or 3 guns in total.)
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Refer to Figure 2-5 the opportunity cost of moving from point C to point B is
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