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Group Assignment 1: Production Alternatives Analysis | Microeconomics | Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh

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This point G indicate the economy is operating inside PPF it mean s that there are resources lying unused in the economy. Thus the output of both the goods can be increased simultaneously if the res ources are put to use. d. - This point H outside the PPF curve is not feasible because it requires more resources than are actually available. Tài liệu được sưu tầm và soạn thảo dưới dạng file PDF để gửi tới các bạn cùng tham khảo, ôn tập đầy đủ kiến thức, chuẩn bị cho các buổi học thật tốt. Mời bạn đọc đón xem!

Môn: Microeconomics 613 tài liệu

Trường: Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh 1.9 K tài liệu

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GROUP ASSIGNMENT 1
Exercise 1.
a.
0 5 10 15 20 25 30 35 40
0
2
4
6
8
10
12
0 0 0
10
0 0 00
2
0 0 0 0 0
8
6
4
2
0 0 0
Production alternatives
Guided missiles (in thousands)
Cars (in millions)
Point Opportunity costs of producing
missiles
E D 0,17
D C 0,22
C B 0,33
B A 0,67
Opportunity costs of the production of missiles is increasing
b. To produce one million more cars, the economy has to reduce:
To produce one thousand more guided missles, the economy has
to reduce:
c. This point G indicate the economy is operating inside PPF it means
that there are resources lying unused in the economy. Thus the
output of both the goods can be increased simultaneously if the
resources are put to use.
d. - This point H outside the PPF curve is not feasible because it
requires more resources than are actually available.
- Economic growth through more inputs, better inputs, improved
technology must be achieved to attain H
e.
Exercise 2.
a.
0 5 10 15 20 25 30
0
2
4
6
8
10
12
0
4
7
9
10
Production alternatives
Output of wheat (tons)
Output of cloth (1000 set)
b. Unemployment, productive inefficiency
c. Present unattainable
d.
* Opportunity costs of producing wheat
Point Opportunity costs of producing
wheat
E D 1/9
D C 1/3
C B 3/5
B A 4/5
*Opportunity costs of producing cloths
Point Opportunity costs of producing
wheat
A B 5/4
B C 5/3
C D 3
D A 9

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GROUP ASSIGNMENT 1 Exercise 1. Production alternatives 14 12 10 10 8 ons) 8 6 n milli 6 (i s ar 4 C 4 2 2 2 0 0 0 0 0 0 0 00 5 10 15 20 25 30 35 40 Guided missiles (in thousands) a. Point Opportunity costs of producing missiles E D 0,17 D C 0,22 C B 0,33 B A 0,67
Opportunity costs of the production of missiles is increasing
b. To produce one million more cars, the economy has to reduce:
To produce one thousand more guided missles, the economy has to reduce:
c. This point G indicate the economy is operating inside PPF it means
that there are resources lying unused in the economy. Thus the
output of both the goods can be increased simultaneously if the resources are put to use.
d. - This point H outside the PPF curve is not feasible because it
requires more resources than are actually available.
- Economic growth through more inputs, better inputs, improved
technology must be achieved to attain H e. Exercise 2. Production alternatives 12 10 10 9 ) et 8 0 s 7 100 h ( 6 4 of clot 4 ut tp Ou 2 0 00 5 10 15 20 25 30 Output of wheat (tons) a.
b. Unemployment, productive inefficiency c. Present unattainable d.
* Opportunity costs of producing wheat Point Opportunity costs of producing wheat E D 1/9 D C 1/3 C B 3/5 B A 4/5
*Opportunity costs of producing cloths Point Opportunity costs of producing wheat A B 5/4 B C 5/3 C D 3 D A 9

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