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1) Use the following table to draw a production possibility curve. Plot the consumer goods on the Y axis and the capital goods on the X axis. Capital Goods Consumer goods 5 0 4 5 3 9 2 12 1 14 0 15 Point A B C D E F 2) Identify a point that shows optimal production 3) Identify a point that shows unemployment 4) Identify a point that is not attainable given the societies resources 5) Calculate the opportunity cost of moving from point B to C and from D to E

1) Use the following table to draw a production possibility curve. Plot the consumer goods on the Y axis and the capital goods on the X axis. Capital Goods Consumer goods 5 0 4 5 3 9 2 12 1 14 0 15 Point A B C D E F 2) Identify a point that shows optimal production 3) Identify a point that shows unemployment 4) Identify a point that is not attainable given the societies resources 5) Calculate the opportunity cost of moving from point B to C and from D to E

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1) Use the following table to draw a production possibility curve. Plot the consumer goods on the Y axis and the capital goods on the X axis. Capital Goods Consumer goods 5 0 4 5 3 9 2 12 1 14 0 15 Point A B C D E F 2) Identify a point that shows optimal production 3) Identify a point that shows unemployment 4) Identify a point that is not attainable given the societies resources 5) Calculate the opportunity cost of moving from point B to C and from D to E
Transcribed Image Text:1) Use the following table to draw a production possibility curve. Plot the consumer goods on the Y axis and the capital goods on the X axis. Capital Goods Consumer goods 5 0 4 5 3 9 2 12 1 14 0 15 Point A B C D E F 2) Identify a point that shows optimal production 3) Identify a point that shows unemployment 4) Identify a point that is not attainable given the societies resources 5) Calculate the opportunity cost of moving from point B to C and from D to E
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