Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Production Possibilities Curve 40 B 30 C (4, 26) Ice-Cream Sodas (thousands) 20 L 10 0 2 6 Industrial Robots a. What is the opportunity

image text in transcribedimage text in transcribedimage text in transcribed
Production Possibilities Curve 40 B 30 C (4, 26) Ice-Cream Sodas (thousands) 20 L 10 0 2 6 Industrial Robots a. What is the opportunity cost of industrial robots in terms of ice-cream sodas when Prospera moves from point A to B? O 1,000 sodas for each additional robot O 4,000 sodas for each additional robot O 2,000 sodas for each additional robot O 8,000 sodas for each additional robotWhat is the opportunity cost of industrial robots in terms of ice-cream sodas when Prospera moves from point B to C? O 2,000 sodas for each additional robot O 4,000 sodas for each additional robot O 8,000 sodas for each additional robot O 1,000 sodas for each additional robot What is the opportunity cost of ice-cream sodas in terms of industrial robots when Prospera moves from point E to D? O 2 / 12,000 robots for each additional soda O 2 / 16,000 robots for each additional soda O 2 / 36,000 robots for each additional soda O 2 / 8,000 robots for each additional soda What is the opportunity cost of ice-cream sodas in terms of industrial robots when Prospera moves from point D to C? O 2 / 16,000 robots for each additional soda O 2 / 36,000 robots for each additional soda O 2 / 12,000 robots for each additional soda O 2 /8,000 robots for each additional soda .Do your answers in each case illustrate the law of increasing opportunity costs? (Click to select (Click Yes, they illustrate the law of increasing opportunity costs. No, they do not illustrate the law of increasing opportunity costs. ial robots would cause the production possibilities curve tob. A technological improvement in the assembly ofindustrial robots would cause the production possibilities curve to 0 shift out to the right. with both its vertical and horizontal intercepts increasing. 0 rotate upward, with the vertical intercept increasing and the horizontal intercept staying constant. 0 shift to the left, with both its vertical and horizontal intercepts decreasing. O rotate rightward, with the horizontal intercept increasing and the vertical intercept staying the same. c. lfindustrial robots can be viewed as a capital good, a decision to produce more industrial robots would cause this economy's future production possibilities curve to 0 shift out to the right, with both its vertical and horizontal intercepts increasing. 0 rotate rightward, with the horizontal intercept increasing and the vertical intercept staying the same. 0 rotate upward, with the vertical intercept increasing and the horizontal intercept staying constant. 0 shift to the left, with both its vertical and horizontal intercepts decreasing

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Theories Of Value From Adam Smith To Piero Sraffa

Authors: Ajit Sinha

2nd Edition

0429807716, 9780429807718

More Books

Students also viewed these Economics questions

Question

3. Develop a plan to reach your goals

Answered: 1 week ago

Question

Ill 4 tilt dlll'

Answered: 1 week ago