Question 11: In one day, John Smith, a professional assassin, can blow up two bu

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Question 11: In one day, John Smith, a professional assassin, can blow up two buildings or kill five bad guys. His partner Jane can blow up four buildings or kill six bad guys in one day. John and Jane can gain from specialization and trade if Jane and John 1) kills bad guys; blows up buildings 2) kills bad guys; kills bad guys 3) blows up buildings; kills bad guys 4) none of the above, Jane should do everything since she is better at being an assassin than John is Question 12 Zhang Krishna 15 10 10 10 10 Hard Drives (units per period) Hard Drives (units per period) Given the production possibilities shown above, which of the following combinations of production output is unattainable for Krishna, ceteris paribus? 1 10 units of IT services and 5 units of hard drives per period 2) 10 units of IT services and 0 units of hard drives per period 3) 5 units of IT services and 2.5 units of hard drives per period C 4) All of the above are attainable for Krishna Question 13: In March, a factory used new technology to produce its output. Then in August, a fire destroyed half the factory. The new technology shifted the factory's PPF C 1) outward; inward and the fire shifted it C 2) outward; outward 3) inward:outward 4 inward; inward

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11) Option 3

blows up buildings ; kills bad guys

The opportunity cost for john when killing bad guys is 0.4 , i.e(2/5)

The opportunity cost for jane when killing bad guys is 0.67 , i.e(4/6) John should specialize in killing bad gays since the opportunity cost is lower and Jane should specialize in blow up buildings.

12) Option D

All of the above are attainable for krishna

The production possibility frontier (PPF) represents all maximum output possibilities for two goods when the existing resourses are used efficiently.In this case the maximum possible output for krishna is 10 units of it services and 5 units of hardware drives per period.

13) Option 1

Outward ; inward

The new technology increases the output and PPF shifts outwards and the fire decrease the output and the PPF shifts inward.

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Question 11: In one day, John Smith, a professional assassin, can blow up two bu

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