Should Toy Giveaways Be Banned? Who is Responsible for Children's Health?
Should Toy Giveaways Be Banned? Who is Responsible for Children's Health?
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8.Consider a PPF which illustrates the trade-off between the production of children's storybooks and college textbooks, with the quantity of children's storybooks on the horizontal axis and the quantity of college textbooks on the vertical axis. Suppose there is an improvement in the technology for producing college textbooks, but technology for making children's storybooks stays unchanged.
a. The efficient production level for storybooks has risen.
b. The opportunity cost of producing storybooks has increased.
c. The efficient production level for storybooks has fallen.
d. The opportunity cost of producing textbooks has increased
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7. Consider a PPF which illustrates the trade-off between the production of children's storybooks and college textbooks, with the quantity of children's storybooks on the horizontal axis and the quantity of college textbooks on the vertical axis.
Suppose there is an improvement in the technology for producing college textbooks, but technology for making children's storybooks stays unchanged.
a.Society can afford to have more college textbooks, but not more children's storybooks. The vertical endpoint should shift up. |
b.Society can afford to have more of both goods. The vertical endpoint should shift up. |
c.Society can afford to have more of both goods. The PPF should shift out in a parallel manner. |
d.Society can afford to have more college textbooks, but not more children's storybooks. The PPF should shift out in a parallel manner. |