Multiple Choice
Suppose an economy produces only two goods, X and Y. If year 1 is the base year, which of the following statements about the Production Possibilities Frontier (PPF) is correct?
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2. Introductory Economic Models
Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency
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Refer to the table below, which shows the total output produced as the number of workers increases. What is the total output when 4 workers are hired?Number of Workers | Total Output------------------|-------------1 | 102 | 253 | 454 | 705 | 90
A
70
B
25
C
90
D
45
Verified step by step guidance1
Identify the number of workers for which you need to find the total output. In this case, it is 4 workers.
Look at the table provided and locate the row where the number of workers is 4.
Read the corresponding total output value in that row.
Understand that total output represents the total quantity produced by all workers combined at that level of employment.
Conclude that the total output when 4 workers are hired is the value found in the table for 4 workers.
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Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency practice set
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