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Suppose Jacques is currently using combination D, producing one car per day. His opportunity cost of producing a second car per day is per day. Now, suppose Jacques is currently using combination C, producing two cars per day. His opportunity cost of producing a third car per day is per day. From the previous analysis, you can determine that as Jacques increases his production of cars, his opportunity cost of producing one more ca Suppose Jacques buys a new tool that enables him to produce twice as many cars per hour as before, but it doesn't affect his ability to produc drums. Use the green points (triangle symbol) to plot his new PPF on the previous graph. Because he can now make more cars per hour, Jacques's opportunity cost of producing drums is it was previously.

Suppose Jacques is currently using combination D, producing one car per day. His opportunity cost of producing a second car per day is per day. Now, suppose Jacques is currently using combination C, producing two cars per day. His opportunity cost of producing a third car per day is per day. From the previous analysis, you can determine that as Jacques increases his production of cars, his opportunity cost of producing one more ca Suppose Jacques buys a new tool that enables him to produce twice as many cars per hour as before, but it doesn't affect his ability to produc drums. Use the green points (triangle symbol) to plot his new PPF on the previous graph. Because he can now make more cars per hour, Jacques's opportunity cost of producing drums is it was previously.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
ChapterA: The Use Of Mathematics In Principles Of Economics
Section: Chapter Questions
Problem 3RQ: Exercise A3 What dome slices of a pie chart represent?
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Suppose Jacques is currently using combination D, producing one car per day. His opportunity cost of producing a second car per day is per day. Now, suppose Jacques is currently using combination C, producing two cars per day. His opportunity cost of producing a third car per day is per day. From the previous analysis, you can determine that as Jacques increases his production of cars, his opportunity cost of producing one more car Suppose Jacques buys a new tool that enables him to produce twice as many cars per hour as before, but it doesn't affect his ability to produce drums. Use the green points (triangle symbol) to plot his new PPF on the previous graph. Because he can now make more cars per hour, Jacques's opportunity cost of producing drums is it was previously.
Transcribed Image Text:Suppose Jacques is currently using combination D, producing one car per day. His opportunity cost of producing a second car per day is per day. Now, suppose Jacques is currently using combination C, producing two cars per day. His opportunity cost of producing a third car per day is per day. From the previous analysis, you can determine that as Jacques increases his production of cars, his opportunity cost of producing one more car Suppose Jacques buys a new tool that enables him to produce twice as many cars per hour as before, but it doesn't affect his ability to produce drums. Use the green points (triangle symbol) to plot his new PPF on the previous graph. Because he can now make more cars per hour, Jacques's opportunity cost of producing drums is it was previously.
Hours Producing Produced Choice (Cars) (Drums) (Cars) (Drums) A 4 B 6. 3 11 C 4 4 2 16 D 1 19 E 8 20 the following graph, use the blue points (circle symbol) to plot Jacques's initial production possibili 30 25 Initial PPF 20 New PPF 15 10 1 2 3 4 7 8 CARS
Transcribed Image Text:Hours Producing Produced Choice (Cars) (Drums) (Cars) (Drums) A 4 B 6. 3 11 C 4 4 2 16 D 1 19 E 8 20 the following graph, use the blue points (circle symbol) to plot Jacques's initial production possibili 30 25 Initial PPF 20 New PPF 15 10 1 2 3 4 7 8 CARS
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