Scenario 2 Your family runs a roadside caramel apple stand in the summer. They have trusted you to decide how many of the 10 caramel apples you have will be caramel drizzled with chocolate and how many will be caramel rolled with rainbow sprinkles. How many combinations of these two types of caramel apples can you make? Apples | Chocolate Rainbow Picked Drizzle Sprinkles These are your 10 PRODUCTION 10 POSSIBILITIES. 10 10 10 10 Then, GRAPH IT! 10 10 10 10 Now, ANALYZE 10 the DATA. On the graph you created, label where output has efficient, inefficient, or impossible (unattainable) possibilities. For questions 7-11, identify whether output is efficient, inefficient, or unattainable for each scenario. 7. 5 Chocolate Drizzle and 5 Rainbow Sprinkles 8. 7 Chocolate Drizzle and 4 Rainbow Sprinkles 9. 3 Chocolate Drizzle and 7 Rainbow Sprinkles 10. 6 Chocolate Drizzle and 2 Rainbow Sprinkles 11. 8 Chocolate Drizzle and 5 Rainbow Sprinkles BIG IDEAS OF ECON - CONTENT AND SKILLS PRACTICE 35 @2020 AMERICAN EAGLE CO., INC. 75 6.87 8 07Name: Date: Hour: Opportunity Cost and Production Possibilities Scenarios Scenario 1 You have Saturday off from work. Several of your friends have asked you to make plans with them. You want to hang out with all of them, but there just isn't enough time in the day to do everything. What are you going to do? 1. List at least five things you could do this weekend. Place a v next to the one option you're going to do on Saturday. The other four activities are your trade-offs. 2. Place a next to the next best option you'll be missing out on because of your choice. This is known as your opportunity cost. You gave this up as a cost for a different opportunity. 3. What is the purpose of the Production Possibilities Frontier (PPF)? Use the graph to answer questions 4-6 about a company that 500 4509 produces crab puffs and storage sheds. Crab P 350 4. 300 Point A has crab puffs and storage sheds 250 B 5. Point B has crab puffs and storage sheds 200 150 6. What would be the opportunity cost of the company moving from point 100 50 A to point B: They will be getting more_ but 7 8 9 10 11 fewer Storage Sheds @2020 AMERICAN EAGLE CO., INC. 4.75 BIG IDEAS OF ECON - CONTENT AND SKILLS PRACTICE 34 150 87 8 97