Draw and explain a production possibilities frontier for an economy that produces milk and cookies.
Answers
Answer:
The production of milk is taken on the X-axis, while that of cookies is taken on the Y-axis. The initial production possibility frontier will be CM. If a disease kills half of the cows in the economy, the production of milk is likely to decline, and the new production possibility frontier will be CM'.
Answer:
Possibilities frontier for an economy that produces milk and cookies.
Explanation:
Because the name shows, the manufacturing possibility frontier shows the manufacturing of two goods; one on each axis. It graphically indicates the possibilities of production at the curve as a consequence the amount of production executed in that economic system. The production possibility frontier is important because it suggests the commodities to be produced and the amounts.
The manufacturing possibility frontier for milk and cookies earlier than the ailment can be visible as the curve CM in the diagram beneath. The manufacturing of milk is taken on the X-axis, whilst that of cookies is taken on the Y-axis.
If a disease kills half of the cows in the economy, the production of milk is likely to decline, and the new production possibility frontier will be CM'.
The production opportunity frontier depicts the two commodities produced inside the economy with all of the to be had assets and inputs. those inputs are directly impacted if the sources get reduced, exhausted, or are removed from the manufacturing techniques.
If a disease kills half of the cows in the economy, the production of milk is likely to decline, and the new production possibility frontier will be CM'.
Draw and explain a production possibilities frontier for an economy that produces milk and
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Draw and explain a production possibilities frontier for an economy that produces cheese and milk. What happens to this frontier if a disease kills half of the economy’s cows?
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