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
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Mathematical Applications for the Management, Life, and Social Sciences
Harshbarger
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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
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