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ECS1501 Assignment 2 (Quiz) Semester 1 2023 (818680)
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ECS1501ASSIGNMENT 2 SEMESTER 1 2023
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Question2
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answered In March 2020, a factory used new technology to produce its output. Then in July 2020, a fire destroys half the factory. The new technology shifted the factory's PPC _____ and the fire
shifted it _______.
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1.00
outward; inward
inward; inward.
inward; outward
outward; outward
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Question3
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answered
One point on a PPC shows production levels at 50 tons of coffee and 100 tons of bananas. Remaining on the PPC, an increase of banana production to 140 tons shows coffee
production at 30 tons. Still remaining on the PPC, we see that coffee production at 10 tons allows banana production at 160 tons. The opportunity cost of a ton of bananas is
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1.00
16 to 1, that is every 1 ton of coffee given up will result in 16 more tons of bananas.
constant because coffee production decreased by the same amount each time.
decreasing.
increasing.
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Dashboard / My courses / ECS1501-23-S1 / Assessments / Assessment 2
Question4
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answered The production possibilities curve is the boundary between those combinations of goods and services that can be
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consumed domestically and those that can be consumed by foreigners.
produced and those that cannot be produced.
produced and those that can be consumed.
consumed and those that cannot be produced.
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Question5
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answered A production possibilities curve does NOT illustrate
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attainable and unattainable points.
the exchange of one good or service for another.
the limits on production imposed by our limited resources and technology.
opportunity cost.
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