1)Opportunity Cost Information page
Final Submission Due
09/22/24 11:59 PM EDT
09/22/24 11:59 PM EDT
Status
Final Submission in progress
Final Submission in progress
Prompt
Producer
Barley OR Ale
Diane
200 OR 50
George
150 OR 30
Diane and George can each produce barley, ale, or some combination of the two using only 1 unit of labor and 50 units of capital (each). With the given inputs, Diane can produce 200 units of barley OR 50 units of ale, or some combination of the two and George can produce 150 units of barley OR 30 units of ale, or some combination of the two. Please answer the questions below in your response and explain how you arrived at your answers.
- Calculate the opportunity cost of producing one more unit of barley for Diane. Be sure to include the units her opportunity cost is measured in.
- Calculate the opportunity cost of producing one more unit of barley for George. Be sure to include the units his opportunity cost is measured in.
- Who has comparative advantage in producing barley?
|
Producer |
Barley OR Ale |
|
Diane |
200 OR 50 |
|
George |
150 OR 30 |
Diane and George can each produce barley, ale, or some combination of the two using only 1 unit of labor and 50 units of capital (each). With the given inputs, Diane can produce 200 units of barley OR 50 units of ale, or some combination of the two and George can produce 150 units of barley OR 30 units of ale, or some combination of the two. Please answer the questions below in your response and explain how you arrived at your answers.
- Calculate the opportunity cost of producing one more unit of barley for Diane. Be sure to include the units her opportunity cost is measured in.
- Calculate the opportunity cost of producing one more unit of barley for George. Be sure to include the units his opportunity cost is measured in.
- Who has comparative advantage in producing barley?
Instructions
There is a rubric provided so you can see what is expected in your response. You are not governed by a particular word count but you should not need more than 2 paragraphs to respond to the questions. There is one attempt allowed and there is a plagiarism and grammar checker available for you to make sure that your response is your original work and grammatically sound. Plagiarism will not be allowed and will result in a score of 0 points for the assignment.
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There is a rubric provided so you can see what is expected in your response. You are not governed by a particular word count but you should not need more than 2 paragraphs to respond to the questions. There is one attempt allowed and there is a plagiarism and grammar checker available for you to make sure that your response is your original work and grammatically sound. Plagiarism will not be allowed and will result in a score of 0 points for the assignment.
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2)Production Possibilities Frontier Information page
Final Submission Due
09/22/24 11:59 PM EDT
09/22/24 11:59 PM EDT
Status
Final Submission in progress
Final Submission in progress
Prompt
Point
Salads
Automobiles
A
0
400
B
180
260
C
220
210
D
240
0
This table provides data regarding Econtonia’s production possibilities frontier (PPF). Please answer the following questions in your response and explain how you arrived at your answers.
- Is the production combination of 220 salads and 210 automobiles inside, outside, or on the country’s PPF and is this production combination attainable?
- Is the production combination of 200 salads and 200 automobiles inside, outside, or on the country’s PPF and is this production combination attainable?
- If the country is currently producing 180 salads and 260 automobiles and it increases its production of salads to 220, what is the opportunity cost of an additional salad? Does this country face constant, increasing, or decreasing opportunity costs? Explain why.
|
Point |
Salads |
Automobiles |
|
A |
0 |
400 |
|
B |
180 |
260 |
|
C |
220 |
210 |
|
D |
240 |
0 |
This table provides data regarding Econtonia’s production possibilities frontier (PPF). Please answer the following questions in your response and explain how you arrived at your answers.
- Is the production combination of 220 salads and 210 automobiles inside, outside, or on the country’s PPF and is this production combination attainable?
- Is the production combination of 200 salads and 200 automobiles inside, outside, or on the country’s PPF and is this production combination attainable?
- If the country is currently producing 180 salads and 260 automobiles and it increases its production of salads to 220, what is the opportunity cost of an additional salad? Does this country face constant, increasing, or decreasing opportunity costs? Explain why.
Instructions
There is a rubric provided so you can see what is expected in your response. You are not governed by a particular word count but you should not need more than 2-3 paragraphs to respond to the questions. There is one attempt allowed and there is a plagiarism and grammar checker available for you to make sure that your response is your original work and grammatically sound. Plagiarism will not be allowed and will result in a score of 0 points for the assignment.
There is a rubric provided so you can see what is expected in your response. You are not governed by a particular word count but you should not need more than 2-3 paragraphs to respond to the questions. There is one attempt allowed and there is a plagiarism and grammar checker available for you to make sure that your response is your original work and grammatically sound. Plagiarism will not be allowed and will result in a score of 0 points for the assignment.