Answered: 3,000 2,200 2,000 C А Production…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A) What is the opportunity cost of moving from Point A to Point C? 4) What is the opportunity cost of moving from Point B to Point A?

B) Is it possible to increase the quantity of cars produced and also increase the quantity of computers produced at the same time by moving from one point to another ON the production possibilities curve? Briefly explain your position.

C) Is it possible to increase the quantity of cars produced and also increase the quantity of computers produced at the same time by moving from a point inside the production possibilities curve to a point ON the production possibilities curve? Briefly explain your position.

D) What can cause a movement from Point C to Point D. Briefly explain your position. 8) What can cause a movement from Point C to Point B. Briefly explain your position.

Questions 3-8 are based on Production Possibilities Curve:
Figure 2 The Production Possibilities Frontier
Quantity of
Computers
Produced
3,000
D
2,200
2,000
C
A
Production
possibilities
frontier
1,000
Quantity of
Cars Produced
300
600 700
1,000
Copyright©2003 Southwestern/Thomson Learning

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