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ECS1501-25-Y
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Point
|
Production of wheat (tons)
|
Production of cars
|
A
|
0
|
30
|
B
|
2
|
28
|
C
|
4
|
24
|
D
|
6
|
18
|
E
|
8
|
10
|
F
|
10
|
0
|
This question is based on the following diagram.
The outward shift of the PPC from AD to DG could arise from a decrease in the level of unemployment.
This question is based on the following graph, which shows the production possibilities curve (PPC) of the Wild Coast Community Farm.
Points H, D and G in the graph can be classified respectively as __________ levels of production.
Point
|
Production of wheat (tons)
|
Production of cars
|
A
|
0
|
30
|
B
|
2
|
28
|
C
|
4
|
24
|
D
|
6
|
18
|
E
|
8
|
10
|
F
|
10
|
0
|
This question is based on the following graph, which shows the production possibilities curve (PPC) of the Wild Coast Community Farm.
What is the opportunity cost to Wild Coast Community Farm of moving from point E to C?
This question is based on the following diagram.
A movement from point A to point G represents a technological improvement in the production of both tables and chairs.
Point
|
Production of X
|
Production of Y
|
A
|
0
|
40
|
B
|
4
|
36
|
C
|
8
|
28
|
D
|
12
|
16
|
E
|
16
|
0
|
The principle of increasing opportunity cost leads to
On the vertical axis, the production possibilities curve shows ________, on the horisontal axis the production possibilities curve shows ________.