Answered: 15. Assuming Portugal has 180 man-hours…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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15. Assuming Portugal has 180 man-hours (mhrs) of labor resource available for production, and labor is the only resource, the per unit resource cost of cloth in Portugal is ____ mhrs/yard. (Please do NOT reduce fractions to decimals.)

90
Portugal-
80
70
60
50
PPF
40
30
20
10
10
20
30
40
50
60
cloth
wine

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Production possibility frontier is the indication of the various production possibilities of the tow good when the resource such as labour and capitals are fixed. Production of one good can only be increased by reducing the production of the other goods.

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