Question

b. Which of the following combinations of fishing lures and duck decoys is unobtainable to Mountain Mack in one week's worth of carving? multiple choice 1 10 fishing lures and 40 duck decoys 20 fishing lures and 10 duck decoys 40 fishing lures and 0 duck decoys 16 fishing lures and 30 duck decoys c. Which of the following combinations of fishing lures and duck decoys is an efficient combination? multiple choice 2 16 fishing lures and 30 duck decoys 10 fishing lures and 40 duck decoys 50 fishing lures and 0 duck decoys 20 fishing lures and 10 duck decoys

Answer 1

Question Completion:

Production Possibilities Frontiers

Duck decoys     Fishing lures

0                              120

6                              100

12                              80

18                              60

24                            40

30                            20

36                            0

Answer:

Mountain Mach

Production Possibilities Frontiers:

1. The combinations of fishing lures and duck decoys that is unobtainable to Mountain Mach is:

10 fishing lures and 40 duck decoys

2. The combinations of fishing lures and duck decoys that is an efficient combination for Mountain Mach is:

16 fishing lures and 30 duck decoys

Explanation:

Mountain Mack's Production Possibilities Frontier (PPF) is a graphical illustration of the production possibilities of carving duck decoys and fishing lures with fixed resources.  The PPF indicates the information about the tradeoff between devoting resources to carving duck decoys versus carving fishing lures.  It shows that there is an opportunity cost if Mountain Mack chooses to produce more duck decoys than fishing lures and vice versa.  With PPF, Mountain Mack is able to make efficient decisions by determining the best combination of goods and allocating resources accordingly.