1. Cars(thousands) Beef (Thousands of tons) 10 mal B 2 9 с 4 7 6 E 8 O 0 a)Plot the production possibilities data. What is the opportunity cost of producing the first 2000 automobiles? b) Label a point F inside the curve, why is it inefficient? Label a point H outside the curve, why is it unattainable?

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.
A
Cars(thousands)
0
Beef(Thousands of tons) 10
B
100
2
9
- 4 7
C
D
6
4
E
8
0
a)Plot the production possibilities data. What is the opportunity cost of producing the first 2000
automobiles?
b) Label a point F inside the curve, why is it inefficient?
it unattainable?
a point H outside the curve, why is
Transcribed Image Text:1. A Cars(thousands) 0 Beef(Thousands of tons) 10 B 100 2 9 - 4 7 C D 6 4 E 8 0 a)Plot the production possibilities data. What is the opportunity cost of producing the first 2000 automobiles? b) Label a point F inside the curve, why is it inefficient? it unattainable? a point H outside the curve, why is
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