https://file.aiquickdraw.com/mathbot/file/1729722746588clluxkz5.pdf

It looks like you've uploaded a set of economics questions from your homework. Let's tackle the first one from Chapter 2, Question 2.1:

### Question 2.1:

**a. Write down the equation representing Eastland’s production possibilities frontier.**

The production possibilities frontier (PPF) represents the trade-off between two goods, such as camping tents and coffee, that Eastland can produce. The exact equation would depend on the data in the graph you mentioned. To create the equation, you'd generally look at the slope of the PPF (which reflects opportunity cost) and the maximum quantities that can be produced when resources are fully allocated to each good.

Can you describe the graph or provide values for maximum coffee and maximum camping tents Eastland can produce?

**b. If Eastland produces 208 pounds of coffee per month, how many tents must it produce to be productively efficient?**

This depends on the equation for the PPF. Once we have the equation from part (a), we can plug in 208 pounds of coffee to find out how many tents would correspond to this production level.

**c. Perform the necessary calculations to determine whether the production bundle containing 61 camping tents and 179 pounds of coffee is feasible or not feasible.**

We need the PPF equation to check if this point lies on, inside, or outside the production possibilities frontier. Feasibility means that the point should lie on or inside the frontier.

**d. Calculate the maximum number of camping tents that Westland is able to produce if it doesn’t produce any coffee.**

From the question, we know that Westland can produce 240 pounds of coffee per month. Since the opportunity cost of 1 camping tent is 1.5 pounds of coffee, we can calculate the number of camping tents by dividing 240 pounds of coffee by 1.5 pounds/tent. 

\[
\text{Max number of camping tents} = \frac{240}{1.5} = 160 \text{ tents}
\]

**e. Calculate Westland’s average opportunity cost of producing an additional pound of coffee.**

Given that 1 camping tent costs 1.5 pounds of coffee, the opportunity cost of producing 1 pound of coffee is the inverse, meaning 1/1.5 tents per pound of coffee.

---

Would you like more detailed explanations for any part? Here are some related questions:

1. How can we calculate the slope of the production possibilities frontier?
2. What factors can cause the PPF to shift outward or inward?
3. What does it mean for a production bundle to be productively efficient?
4. How does opportunity cost influence decision-making in an economy?
5. What happens if a country specializes in producing a good where it has a comparative advantage?

**Tip**: When solving PPF problems, always check if the points lie on the curve (for efficient production) or inside it (for feasible but inefficient production).

Chapter 2, Question 2.1: a. Write down the equation representing Eastland’s production possibilities frontier. b. If Eastland produces 208 pounds of coffee per month, how many tents must it produce to be productively efficient? c. Perform the necessary calculations to determine whether the production bundle containing 61 camping tents and 179 pounds of coffee is feasible or not feasible. d. Calculate the maximum number of camping tents that Westland is able to produce if it doesn’t produce any coffee. e. Calculate Westland’s average opportunity cost of producing an additional pound of coffee.

Learn how to calculate the production possibilities frontier (PPF) for Eastland and Westland, including opportunity costs and efficiency. This guide covers questions on productive efficiency, feasibility of production bundles, and opportunity cost calculations, ideal for introductory economics students.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation