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AutoSave . off) H 9 057 Document1 - Word Search A Affinity E3 AE File Home Insert Design Layout References Mailings Review View Help Script Lab Share Comments 6 Cut Paste Copy Helvetica 11.5 ~ A'A AV AV 2 21 1 AaBbCCDde AaBbCCDdEE AaBbCCD AaBbCcDdE AaBb AaBbCcDdE AQBbCCDdEt AQBbCCDdEE AQBbCCDdEt ~| Replace Find Format Painter BIU ab x X ALA = 1 . B. 1 Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em. Emphasis Intense E. Select Dictate Editor Clipboard Font Paragrap Styles Editing Voice Editor The cost of one more unit of cloth is 4 units of wheat. Cost of 1 more unit of wheat is 0.5 unit of cloth. B) Yes, the economy is subject to law of increasing opportunity costs. C) Economy is not producing efficiently Please find complete explanation in the explanation section. AutoSave . Of) H Macro Prelude Extra Credit 1 for Test 1 (Before Testing) - Online E81(1) (1) - Word Search Affinity E3 AE Explanation: File Home Insert Design Layout References Mailings Review Help Script Lab Share Comments A alternative D, economy produces 3 units of cloth and 9 units of wheat. Georgi AaBbCCDdE AaBbCCDdEE AaBbCCD AaBbCcDd AaBb AaBbCcDdE AaBbCCDdEt AQBbCCDdEt AQBbCcDdEE Find At alternative E. economy produces 4 units of cloth and 5 units of wheat Thus the cost of one more unit of cloth is 4 units of wheat. As economy moves from alternative D to E, it is able to produce one more unit of cloth but at the cost of 4 units of wheat. Copy 12 ~ A" A Aa A . 3 2 1 Paste Thus, the cost of one more unit of cloth is 4 units of wheat. Format Painter BIU ab X, X A LA . = [. 1 Normal 1 No Spac... Heading 1 Heading 2 Title Replace Subtitle Subtle Em. Emphasis Intense E. Select Dictate Editor A) Clipboard Font Paragraph Styles Editing Voice Editor alternative C, economy produces 2 units of cloth and 12 units of wheat. Now if we wish to have one more unit of wheat, we will have to give up certain units of cloth . Interpret the graph below This means for increasing quantity of wheat, economy would shift from point C to point B. ) What is exactly occurring in this graph? In other words, what specifically changed? Notice, there are 2 curves, not just one. (1 point) But we can see that at point B economy produces 14 units of wheat and 1 unit of cloth. Which means 1 unit of cloth is the cost for 2 more units of wheat. Answer: But we need 1 more unit of wheat, thus we can conclude that 0.5 unit of cloth would be the cost of 1 more unit of wheat. Thus cost of 1 more unit of wheat is 0.5 unit of cloth. b) Which possible variable could have caused the change you see? (You can take your pick, so long it's valid...worth 1 point) B) Yes, the economy is subject to law of increasing opportunity costs. Answer: As economy moves from alternative A to alternative F, for each increase in unit of cloth, we have greater decline in the units of wheat. Which means as economy moves from alternative A to alternative F, quantity ternative F, quantity of wheat sacrificed increases for each increase in unit of cloth. Price As economy moves from alternative A to alternative B, for one unit increase in cloth, amount of wheat sacrificed is 1 unit. But when economy moves from alternative E to alternative F, for one unit increase in cloth, amount of wheat sacrificed is 5 units. Thus suggesting that economy is subject to law of increasing opportunity costs. C) Economy is currently producing 3 units of cloth and 7 units of wheat. But if we look at alternative D, economy is able to produce 3 units of cloth and 9 units of wheat. Which means that there is under production or under utilization of economy's capacity. Which means economy is not producing efficiently. 54 of 457 words " Focus 1 6 - 1009 190 09 W X 5:00 PM 71/4/2020 5. Explain how going from point A to Answer: from going A to C, instead: (1 point) Change in Quantity Supplied vs. Shift in Supply. Change in Price Quantity Supplied Shift in Supply 1246 words x Focus RA 6 - + 100% Type here to search o Hi 0 9 W X
