Question

Tom's lawn service specializes in mowing lawns and trimming bushes Tom has 4 hours to devote to lawn services. In 1 hour, he can mow 3 lawns or trim 5 bushes Use the line drawing fool to graph Tom's production possibilities frontier given he has 4 hours to devote to lawn services. Properly label this line Carefully follow the instructions above, and only draw the required objects Tom's opportunity cost of mowing lawns in terms of trimming bushes is immed bushes per mowed awn 24 Enter your response rounded to two decimal places) 20 Quanbity of lawns mowed

Answer 1

The production possibilities frontier shows the trade-offs between producing different goods. In Tom's lawn service, the opportunity cost of mowing one lawn is approximately 1.67 bushes trimmed. This concept helps in understanding how resources are allocated in production.

Step-by-step explanation:

The concept in question is the production possibilities frontier (PPF), which represents different combinations of goods or services an economy can produce when all resources are fully and efficiently utilized. The slope of the PPF indicates the opportunity cost of producing one good over another, which is key to understanding trade-offs and allocation of resources.

For instance, Tom's landscaping business can mow 3 lawns or trim 5 bushes per hour. With 4 hours, if he devotes all his time to mowing, he can mow 12 lawns (3 lawns/hour * 4 hours) and trim no bushes. Conversely, if he trims bushes for all 4 hours, he can trim 20 bushes (5 bushes/hour * 4 hours). The opportunity cost of mowing one lawn is the number of bushes he could have trimmed instead; from the given information, for every 3 lawns mowed (1 hour), 5 bushes could be trimmed, giving us an opportunity cost of 5/3, or approximately 1.67 bushes per lawn mowed.

Answer 2

attached answer

Step-by-step explanation:

To draw the FPP we have to calculate either the formula or calcualte two points in the curve to draw the line.

Mowed Land Trimmed bushed

0(0 hours x 3 per hour) 20 (4 hours x 5 per hour)

3(1 hours x 3 per hour) 15 (3 hours x 5 per hour)

6(2 hours x 3 per hour) 10 (2 hours x 5 per hour)

9(3 hours x 3 per hour) 5 (1 hours x 5 per hour)

12(4 hours x 3 per hour) 0 (0 hours x 5 per hour)