d. Plot the point denoting 300 chairs and 300 tables on your graph above. Is this point “feasible”? Why or why not? e. Plot the point denoting 300 chairs and 50 tables on your graph above. Should XYZ be producing at this point? Why or why not?
please solve d and e
Imagine a country XYZ that produces only two goods—chairs and tables. Together, the chairs and tables
industries use all of the economy’s factors of production. The table below shows the production
possibilities for XYZ:
Production Possibilities for XYZ
Chairs Tables
600 0
450 150
300 250
150 325
0 375
a. Draw a Production Possibility Frontier for the country using the information in table
above.
b. What is the
chairs?
c. What is the opportunity cost of increasing tables production from 250 tables to 325
tables?
d. Plot the point denoting 300 chairs and 300 tables on your graph above. Is this point
“feasible”? Why or why not?
e. Plot the point denoting 300 chairs and 50 tables on your graph above. Should XYZ be
producing at this point? Why or why not?
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