Question Details

[solution] » 1. The Micro Islands have traditionally produced large amounts of

Brief item decscription

Step-by-step solution file

Item details:

1. The Micro Islands have traditionally produced large amounts of


The Micro Islands have traditionally produced large amounts of Starfish and provided a relatively small amount of labor for hotels, docks, etc. that service the cruise ships that visit our island. As economic advisor, you've just learned that five more cruise lines will be visiting Micro Island each week. 

1. Using a correctly drawn and labeled production possibilities curve, demonstrate the reallocation of resources that will need to take place for this to work efficiently. 

2. Show how the influx of more skilled workers from neighboring islands would be reflected in the production possibilities curve. (Draw a second PPC graph) 

3. Finally, show the impact of too many new laborers moving to the islands on a new production possibilities curve.

Illustrate three of the following concepts using properly drawn and labeled production possibilities frontier graphs. Use a separate ppf graph for each concept you select.

1. scarcity and trade-offs

2. unemployment

3. opportunity cost

4. economic growth


About this question:

This question was answered on: Feb 21, 2020

PRICE: $24 (18.37 KB)

Buy this answer for only: $24

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card. All your purchases are securely protected by PayPal.

Need a similar solution fast, written anew from scratch? Place your own custom order

We have top-notch tutors who can help you with your essay at a reasonable cost and then you can simply use that essay as a template to build your own arguments. This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student. New solution orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

Order Now