1 Table 1 sets out the production possibilities of a small Pacific island economy Draw the economys PPF 2 Which points are attainable Explain why 3 Which points are efficient and which points are inefficient Explain why 4 Which points illustrate a tradeoff Explain why TABLE 1 Fish Possibility (poun...

1 The PPF is the boundary between attainable and unattainable combinations of goods Figure 2 shows t ...

1. Table 1 sets out the production possibilities of a small Pacific island economy. Draw the economys...

1. Table 1 sets out the production possibilities of a small Pacific island economy. Draw the economy’s PPF.

TABLE 1 Fish Possibility (pounds) A B C D E F 0 1 234 in 4 5 and and and and and and Berries (pounds) 20 18

2. Which points are attainable? Explain why.

FIGURE 1 Cars (thousands per week) 60 50 40 30 20 10 0 + + 2 A D 4 B E 6 C PPF 8 10 Airplanes (per week)

3. Which points are efficient and which points are inefficient? Explain why.

FIGURE 1 Cars (thousands per week) 60 50 40 30 20 10 0 + + 2 A D 4 B E 6 C PPF 8 10 Airplanes (per week)

4. Which points illustrate a tradeoff? Explain why.

FIGURE 1 Cars (thousands per week) 60 50 40 30 20 10 0 + + 2 A D 4 B E 6 C PPF 8 10 Airplanes (per week)

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ISBN: 9780134486819

8th Edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Dec 08, 2023 08:02 AM

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