Draw the production possibilities frontier on a scale diagram, with the production of X on the horizontalaxis and the production of Y on the vertical axisAnnual Production of YAnnual Production of X02045607075130012009006:003500b. If the economy is producing 45 units of X and 900 units of Y, what is the opportunity cost of producing anextra 15 units of X. Show on graph.C.If the economy is producing 20 units of X and 800 units of Y, what is the opportunitycost of producing an extra 10 units of X. Show on graph.

The production possibilities frontier of good x and good y is a graph representing all possible…

a Draw the production possibilities frontier on a scale diagram, with the production of X on the horizontal axis and the production of Y on the vertical axis Annual Production of Y Annual Production of X 0 20 45 60 70 75 1300 1200 900 600 350 D b If the economy is producing 45 units of X and 900 units of Y, what is the opportunity cost of producing an extra 15 units of X. Show on graph. c. If the economy is producing 20 units of X and 800 units of Y, what is the opportunity cost of producing an extra 10 units of X. Show on graph

a Draw the production possibilities frontier on a scale diagram, with the production of X on the horizontal axis and the production of Y on the vertical axis Annual Production of Y Annual Production of X 0 20 45 60 70 75 1300 1200 900 600 350 D b If the economy is producing 45 units of X and 900 units of Y, what is the opportunity cost of producing an extra 15 units of X. Show on graph. c. If the economy is producing 20 units of X and 800 units of Y, what is the opportunity cost of producing an extra 10 units of X. Show on graph

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Graphing: Using the Production Possibilities Schedule above, make a Production Possibilities Frontier with proper point and axis labels. Production Combination Units of Bracelets I. A P L 1 E JOCONMSUBT D с G 0 10 20 30 40 50 60 70 80 90 100 110 120 130 Units of Rings 205 200 194 187 179 169 158 146 133 117 100 77 50 0
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The graph shows the Production Possibility Frontiers of Writ (orange, dotted line) and Greg (green, solid line) when they gather pumpkins or branches individually. Drag and drop the points A, B and C to form the Production Possibility Frontier when Wirt and Greg specialize and exchange the production of branches and pumpkins. Note: Use the circle in the top, left corner of the textbox as the point. Drab Point A as the top left point. Drag Point B to the point at which the joint PPF changes slope. Drag Point C to the bottom right point. Total Branches 6 5 4 3 2 1 O 0 1 2 3 4 5 6 Point A Point B Point C Greg's PPF Wirt's PPF Total Pumpkins
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