Using the concept of opportunity cost, explain why it most likely has a bowed-out shape.b. Not the next question. Hawks would have point A … b.) Using the concept of opportunity cost, explain why it most likely has a bowed-out shape. Q2 a,b,c and d.docx - Q2 A Draw a production possibility frontier for guns and butter Using the concept of opprtunity cost explain why it most likely, A. When the economy is producing a lot of butter, workers and machines best suited to making guns are being used to make butter, so each unit of guns given up yields a small increase in the production of butter. This may be seen as an analogy for choices between … Course Hero is not sponsored or endorsed by any college or university. So the reduction the need for guns will provide a large peace dividend to the ox because you're reducing the need for going right and on. This is why the cough is both outward because a country. In macroeconomics, the guns versus butter model is an example of a simple production–possibility frontier. producing a lot of butter, workers and machines best suited to making guns are being used to make butter, so each unit of guns given up yields a small increase in the production of butter. This is going to be a point. Draw a production possibilities… c. Imagine that the society … 6. Using the concept of opportunity cost,explain why it most likely has a bowed-out shape.b. Imagine a society that produces military goods and consumer goods, which we'll call guns and butter. Draw a production possibilities frontier for gunsand butter. Figure 1 shows the production possibility frontier for the production of guns and butter. Show a point that is impossible for the economy to achieve. So we're gonna be explaining that any point in the shade it and let me, you know, shit it. The following figure shows a production possibilities frontier between guns and butter. Both the ox and the dogs reduced their desired production of guns, but I do seem amount so the country reduces the size of military and ox, and those reduced their production of guns by the same amount. Okay, it's gonna look like think no, look like this somewhat. Thus, the frontier is steep and the opportunity cost of … So all this, um, all the parts that I know in this shifted away the partisanship area born along the, you know, outer cough. So we're going to be joined the production possibility Production possibility grunts here. You know, the one a small mitri. Show a point on the graph that is feasible but inefficient.c. So now the first question draw. Imagine a society that produces military goods and consumer goods, which we we'll call "guns"? Using the concept of opportunity cost, explain why it most likely has a bowed-out shape. 2 2) Imagine a society that produces military goods and consumer goods, which we’ll call “guns” and “butter” a. Show a point on the graph that is impossible for the economy to achieve. Draw a production possibilities frontier for guns and butter. b. Label the points where the economy would be efficient (A), underutilized (B) and unattainable (C). and "butter."? The term guns and butter has been linked throughout history to the challenges of war and the negotiations on defense spending. b) Show a point that is impossible for the economy to achieve. Which party would get a bigger piece divided, measured by the increase in border production. So if the ox stop making the gun amount off, you know, on guns, they will be able to make a more amount of border that the dogs would be able to while forfeiting the amount off guns. It is bowed out because the opportunity cost of butter depends on how much butter, and how many guns the economy is producing. Draw a production possibilities frontier for guns and butter. c. What is the opportunity cost of moving from point A to point B? Show a point on the graph that is impossible forthe economy to achieve. The figure below shows a production possibilities frontier between guns and butter. Show a point on the graph that is impossible for the economy to achieve. Thus, the frontier is steep and the opportunity cost of producing butter is high. You know that border because the value security so more border than God's. The marginal cost of producing cach of…, Suppose the graph on the next page shows Tanzania's production possibil…, Suppose the economy is in a long-run equilibrium.a. So I guess the military goods called guns and causing my good called bata. So these are the shaded area, Okay? Show a point that is impossible for the economy to achieve. a. The "guns or butter" model is used generally as a simplification of national spending as a part of GDP. d. What is the opportunity cost of moving from point B to point C? On the graph the y-axis would stand for gun and the x-axis would stand for butter. Draw a production possibilities frontier for guns and butter. Show a point that is impossible for the economy to achieve. Imagine a society that produces military goods and consumer goods, which we'll call "guns" and "butter." Draw a production possibilities frontier for guns and butter. Yeah, and from the world we just drew, you can tell that the production possibility frontier demonstrates the cost producing one good against another. Meet students taking the same courses as you are!Join a Numerade study group on Discord. The point “H” … Click 'Join' if it's correct, By clicking Sign up you accept Numerade's Terms of Service and Privacy Policy, Whoops, there might be a typo in your email. Draw a production possibility frontier for guns and butter. Um, the dogs we prefer, you know, appoints that produces a much more border than guns because they valued piece. When the economy is producing a lot of butter, workers and machines best suited to making guns are being used to make butter, so each unit of guns given up yields a small increase in the production of butter. Using the concept of opportunity cost, explain why it most likely has a bowed-out shape. Draw production possibility frontier for guns and butter using the concept of opportunity costs Explain why most, like we has a bold out shape. When the economy is producing a lot of guns, workers and machines best suited to making butter are being used to make guns, so each unit of guns given up yields a large increase in the production of butter. b) Show a point that is impossible for the economy to achieve. Because those want more peace talks wants, you know, more security. You know how many one good can must be sacrificed to make Lunda. Draw the economy…, Draw a basic aggregate demand and aggregate supply graph (with LRAS constant…, Write a system of linear inequalities that models the information given, the…, An economy consists of three workers: Larry, Moe, and Curly. Explain why it most likely has a bowed-out shape. So you can say it is boat out toward because as a country, mhm make small real good, it becomes more difficult to increase production. It demonstrates the relationship between a nation's investment in defense and civilian goods. c) Imagine that the society has two political parties, call them the Hawks ( who want a srong military ) and the Doves ( who want a smaller military ). Plot the Points. Solution for Imagine a society that produces military goods and consumer goods, which we’ll call “guns” and “butter.” a. Explain why it most likely has a bowed out shape. In other words, the opportunity cost of butter RISES with increased production. Show a point that is impossible for the economy to achieve. The production possibilities frontier has a bowed-out shape because the quantity of guns the economy must give up in order to produce more butter INCREASES the more butter is produced. both the Hawks and the Doves reduce their desired production of guns by the same amount. So everything outside this cough outward impossible to achieve. Thus, the frontier is steep and the opportunity cost of … producing butter is high. c) Imagine that the society has two political parties, call them the Hawks ( who want a srong military ) and the Doves ( who want a smaller military ). Now, the second question show a point on the graph that is impossible for the economic toe achieve on show a points on the graph that is visible but inefficient. New York City College of Technology, CUNY, Iowa Central Community College • ECON 120, New York City College of Technology, CUNY • MACROECONO ECON 1101, Iowa Central Community College • ECON 130, New York City College of Technology, CUNY • MATH 2580. So the reduction and needs for guns would. So it's not confusing. Origin and Use . It's possible, but it's inefficient. The vertical axis of Figure 1 measures the quantity of guns produced in a society and the horizontal axis measures the quantity of butter produced. This is zero. A. b. Mhm. Imagine that aggressive neighboring country reduces the size of the military on as the results. The following graph shows the production possibilities frontier for guns and butter. Thus, the production possibilities frontier is flat. Using the concept of opportunity cost, explain why it most likely has a bowed-out shape. Show a point that is impossible for the economy to achieve. Thus, the frontier is steep and the … There's no within the shaded area, which is outside of the year, requires more resources than area available on, therefore, in the possibles achieve. So this question says, Imagine a society that produces military goods on congenial goods, which will call guns and water. So we're arts when the dogs would be able to while four feats in the same amount of guns. Each works 10 h…, EMAILWhoops, there might be a typo in your email. And, um, why is most likely to have a boat out shape our efficiency movement along the cough measures? As the economy moves from producing Imagine that the society has to political leaders called the ox, who wants a strong military, and the dove want a small out military so they have to political leaders. Imagine a society that produces military goods and consumer goods, which we’ll call “guns” and “butter.” a. Imagine a society that produces military goods and consumer goods, which we'll call "guns" and "butter" a. a) Draw a production possibilities frontier for guns and butter. The production possibilities frontier is constructed by plotting all of the … So back to the graph, this is the graph, right? Now, going back to the frontier, we could say that the ox might choose or points around here on the does my shoes or point around here. Using the concept of opportunity cost, explain why it most likely has a bowed-out shape. b. Using the concept of opportunity cost, explain why it most likely has a bowed-out shape. Using the concept of opportunity cost, explain why it most likely has a bowed-out shape. This was the value security. On a production possibilities frontier, 5 guns and 12 pounds of butter can be produced. Using the concept of opportunity cost, explain why it most likely has a bowed-out shape. Imagine that the society has two political parties, called the Hawks (who want a strong military) and the Doves (who want a smaller military). Imagine a society that produces military goods and consumer goods, which we'll call "guns" and "butter." Explain why it most likely has a bowed-out shape. Why has more resources and are impossible to achieve? Draw a production possibilities curve for butter and guns using the data above. When the economy is producing a lot of guns,workers and machines best, suited to making butter are being used to make guns, so each unit of guns given up, yields a large increase in the production of butter.Thus, the frontier is very flat and. Now the last question. It is bowed out because the opportunity cost of butter depends on how much butter and how many guns the economy is producing. Where is inefficient and listening is a on this is gonna be a point where is impossible. Explain. As a country makes more good, it becomes more difficult to increase production. Thus, the production possibilities frontier is steep. Imagine a society that produces military goods and consumer goods, which we’ll call “guns” and “butter.” a. The guns-and-butter curve is the classic economic example of the production possibility curve, which demonstrates the idea of opportunity cost. Show a point that is feasible but inefficient. b. When the economy is producing a lot of guns, The figure below shows a production possibilities frontier between guns and butter. a.) So the frontier should look like this holding it should look bouncy, like around this side. So the one who choose a point that has more border than guns because the one piece and the ox, which is a point where it goes a more produced arts. As the choice is to be made between infinite possibilities, the economists assumed a very basic economy with only two goods (say, guns and butter). CH. e. That's the answer. Imagine a society that produces military goods andconsumer goods, which we’ll call “guns” and “butter.”a. ” a to point C consumer goods, which we we 'll call guns! X-Axis would stand for gun and the opportunity cost, explain why most! To increase production goods and consumer goods, which we 'll call `` guns '' and butter. The economy to achieve why it most likely has a bowed-out shape Hawks choose! 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