# Economics (& Public Policy)

I'm an idiot, but please let me know where to begin here. This is a distance learning course, and I CANNOT contact the professor, and cannot make sense of it in the textbook. If someone can please look at this and let me know where to begin, I thank you VERY much.

"The following data describe the production possibilities for a farm where only peaches and apples are produced:

Apples: 0, 5000, 10000, 15000, 18000.
Peaches: 50000, 48000, 38000, 18000, 0

a. Does this farm display constant costs, decreasing costs, or increasing costs in production of fruit? Why?

b. What would PPF for this farm look like? (Would it be linear, curved inward, or curved outward?)

c. If the farm were producing 15,000 apples and 20,000 peaches, would it be operating on, inside or outside of its production possiblity frontier?

n/m.. got it done; thanks -- though I sitll don't know what I'm doing.

Dont panic, don't give up in frustration; just think in through..

First, draw, the production possibilities curve. Make a simple graph, put Apples on the y-axis, Peaches on the x axis. Plot your 5 data points; then play dot-to-dot.

b) your curve should be bowed outward.

a) Production costs, in this example, are opportunity costs. Start at 0-apples 50000 peaches. How much does it cost the farmer to get 5000 apples. Answer: he must give up 2000 peaches. Now, how much does it cost to get another 5000 apples. -- Ans: 10,000 peaches. I would say costs in production are rising.

c) 15000 apples and 20000 peaches is clearly above the PPF (How the farm gets to this production point violates the underlying notion -- but that's a point for discussion at another time).

1. π 0
2. π 0
3. π 28

## Similar Questions

1. ### English III Proofread and tips (:

Hello! Could someone proofread this summary for me and give me some tips? Thanks so much! In Daniel Smithβs article, The Anxious Idiot, he discusses anxiety issues. He begins the article with an introduction to his anxiety

asked by Claire` on August 18, 2012
2. ### PLUS ONE

two bodies begin to fall freely from the same height the second t second after the first.how long the first body begin to fall,will the distance between the two bodies be equal L.

asked by Anonymous on August 27, 2014
3. ### Physics 201

Suppose the mass of the wing is 0.258g and the effective spring constant of the tissue is 4.00E-4 N/m. Distance d1 = 3.03 mm and distance d2 = 1.76 cm. If the mass m moves up and down a distance of 2.08 mm from its position of

asked by Jessica on December 5, 2011

what 'A' is known as an idiot board?

asked by salman on September 23, 2009

what 'A' is known as an idiot board??

asked by salman on September 24, 2009
6. ### Algebra

f(x)= -x^2 + 2x + 15 I search for the coordinates and keep coming up with (-3,5,0) Yes, I am a idiot. Can someone help please?

asked by Alexis2 on April 27, 2012
7. ### Precalculus

Compute the distance between the parallel lines given by $\begin{pmatrix} 1 \\ 4 \end{pmatrix} + t \begin{pmatrix} 4 \\ 3 \end{pmatrix}$ and $\begin{pmatrix} -5 \\ 6 \end{pmatrix} + s \begin{pmatrix} 4 \\ 3 \end{pmatrix}.$

asked by Zheng on February 13, 2017
8. ### English

Which of the following stylistic movement best represents Weird Al Yankovic's song Canadian Idiot? Would it be existentialism, modernism or postmodernism and why?

asked by Liz on November 3, 2014