Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 29 to 32 based on Figure 4. DVDs ( millions per year) 10- pain billcan C frontier 12 2 Call phones (millions per year)
Question 29 to 32 based on Figure 4. DVDs ( millions per year) 10- pain billcan C frontier 12 2 Call phones (millions per year) Call phones (million) 2 DVD. (millions) 15 14 12 Fonibility Figure 4 29. In the figure, which of the following combinations of the two goods cannot be produced with the current resources and technology? A) 2 million cell phones and 13 million DVDs B) 4 million cell phones and 4 million DVDs C) 1 million cell phones and 14 million DVDs D) 3 million cell phones and 5 million DVDs E) 5 million cell phones and no DVDs30. In the figure, which of the following combinations of the two goods are efficient? A) 2 million cell phones and 13 million DVDs B) 5 million cell phones and 15 million DVDs C) no cell phones and 15 million DVDs D) 4 million cell phones and 4 million DVDs E) None of these combinations is efficient. 31. In the figure, when the economy moves from point E to point D, what is the opportunity cost of a DVD? A) 0.5 cell phones B) 0.25 cell phones C) 1 cell phone D) 4 cell phones E) zero 32. In the figure, when the economy moves from point D to point C, the opportunity cost of producing one more DVD and when it moves from point C to D, the opportunity cost of producing one more cell phone A) increases; increases B) increases; decreases C) decreases; decreases D) decreases; increases E) increases; remains the same
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started