Answers2102320-Economics HONORS - Edgenuity TeacherElasticity and Incentives

Case Study: Starting a Business Answers

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1
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According to the production possibilities curve, what is your opportunity cost for producing one pair of hiking boot inserts?

A
three pairs of running shoe inserts
B
two pairs of running shoe inserts
C
ten pairs of running shoe inserts
D
fifteen pairs of running shoe inserts
2
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Which factors did you discuss in your response? Check all that apply.

A
which item is better for me to produce
B
the opportunity costs involved
C
the resources needed for production
3

At possibility D,[___] pairs of hiking boot inserts can be produced.

A
6
B
9
C
12
28364

If no salads are made, then [___]sandwiches can be made.

A
10
B
8
C
0
28365

If 6 sandwiches are made, then [___] salad(s) can be made.

A
1
B
2
C
3
28366

The opportunity cost of making 1 salad is [___]sandwiches.

A
2
B
4
C
10
28384

[___]

A
points A and B
B
points C and D
C
points E and F
28385

[___]

A
A
B
Y
C
X
28386

[___]

A
A
B
D
C
X
28391

At possibility B, [___] pairs of running shoe inserts can be produced.

A
6
B
9
C
12
28407

[___]

A
A
B
C
C
F
28408

[___]

A
C
B
E
C
X
28409

You have just seen the production possibilities for your new store.Use this information to write two to three sentences explaining which item is better for you to produce and why.

Answer:

It is better for me to produce running shoe inserts because they have a lower opportunity cost than hiking boot inserts. They require fewer resources to produce, which could also lead to greater profits.

28410

The maximum number of running shoe inserts that can be produced is [___].

A
10
B
12
C
15
28411

At which point are you producing all running shoe inserts and no hiking boot inserts?

Answers:
Selection 1:A
Selection 2:X

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