analyzing the graph\n1. what is the shape of the curve based on the data points?\n- the shape of the curve…

analyzing the graph\n1. what is the shape of the curve based on the data points?\n- the shape of the curve based on the data points is linear\n2. why does it reflect that shape?\n- the shape is linear because it reflects \nadd to the graph a point inside the curve and points outside the curve.\n3. what points represent efficient points?\n- points a are because \n4. what point represents an inefficient point?\n- point is because \n5. what point represents an unattainable point?\n- point is because \ncalculate opportunity cost\nusing the ppf you graphed what is the opportunity cost for four different moves?\nar | cc\ntickets\n| 0 | 2200 |\n| 300 | 2000 |\n| 800 | 1600 |\n| 1100 | 1300 |\n| 1600 | 700 |\n| 2300 | 0 |\ntickets. →

analyzing the graph\n1. what is the shape of the curve based on the data points?\n- the shape of the curve based on the data points is linear\n2. why does it reflect that shape?\n- the shape is linear because it reflects \nadd to the graph a point inside the curve and points outside the curve.\n3. what points represent efficient points?\n- points a are because \n4. what point represents an inefficient point?\n- point is because \n5. what point represents an unattainable point?\n- point is because \ncalculate opportunity cost\nusing the ppf you graphed what is the opportunity cost for four different moves?\nar | cc\ntickets\n| 0 | 2200 |\n| 300 | 2000 |\n| 800 | 1600 |\n| 1100 | 1300 |\n| 1600 | 700 |\n| 2300 | 0 |\ntickets. →

Answer

Explanation:

Step1: Recall concept of efficient points

Efficient points lie on the PPF curve. In the context of the given graph, points on the curve represent combinations where resources are fully and efficiently utilized.

Step2: Recall concept of inefficient points

Inefficient points are inside the PPF curve. They represent situations where resources are not fully utilized.

Step3: Recall concept of unattainable points

Unattainable points are outside the PPF curve. Given the current resources and technology, these combinations cannot be achieved.

Step4: Calculate opportunity - cost

The opportunity cost of moving from one point to another is the amount of one good that must be given up to produce more of the other good. For example, moving from 0 tickets to 300 tickets, the number of other items (not named in the problem but on the y - axis) decreases from 2200 to 2000. So the opportunity cost of 300 tickets is 2200 - 2000 = 200 of the other item.

  1. The shape of the curve is linear as stated.
  2. It is linear because the opportunity cost is constant (constant slope of the line).
  3. Points on the curve (like the ones plotted on the straight - line PPF) are efficient points. For example, if we assume the points on the line are named as in a typical graph, the points on the line are efficient because resources are fully utilized.
  4. A point inside the curve is an inefficient point. For example, if there is a point marked inside the line, it is inefficient because resources are not fully utilized.
  5. A point outside the curve is an unattainable point. For example, if there is a point marked outside the line, it is unattainable because current resources and technology do not allow for that combination. For the opportunity - cost calculations: Moving from (0, 2200) to (300, 2000): Opportunity cost of 300 tickets = 2200 - 2000 = 200 of the other item. Moving from (300, 2000) to (800, 1600): Opportunity cost of 500 tickets = 2000 - 1600 = 400 of the other item. Moving from (800, 1600) to (1100, 1300): Opportunity cost of 300 tickets = 1600 - 1300 = 300 of the other item. Moving from (1100, 1300) to (1600, 700): Opportunity cost of 500 tickets = 1300 - 700 = 600 of the other item.

Answer:

  1. Linear
  2. Constant opportunity cost
  3. Points on the curve; resources are fully utilized
  4. A point inside the curve; resources are not fully utilized
  5. A point outside the curve; current resources and technology do not allow for that combination Opportunity - cost for different moves:
  • Move 1 (0 to 300 tickets): 200 of the other item
  • Move 2 (300 to 800 tickets): 400 of the other item
  • Move 3 (800 to 1100 tickets): 300 of the other item
  • Move 4 (1100 to 1600 tickets): 600 of the other item