Good U Good Z (unit) (unit) 1750 100 1700 200 1650 300 1580 400 1480 500 1300 600 1090 700 850 800 590 900 300 1000 Table 2.1 a. Demonstrate the production of the two goods based on Table 2.1 on a graph paper, with Good U on the x-axis and Good Z on the y-axis. b. Compute the marginal rate of product transformation (MRPT) when output level of Good U increases from one level to another (0 to 1000 units). c. What is the opportunity cost per unit when the output level of Good U increases from 700 units to 800 units?
Good U Good Z (unit) (unit) 1750 100 1700 200 1650 300 1580 400 1480 500 1300 600 1090 700 850 800 590 900 300 1000 Table 2.1 a. Demonstrate the production of the two goods based on Table 2.1 on a graph paper, with Good U on the x-axis and Good Z on the y-axis. b. Compute the marginal rate of product transformation (MRPT) when output level of Good U increases from one level to another (0 to 1000 units). c. What is the opportunity cost per unit when the output level of Good U increases from 700 units to 800 units?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Good U
Good Z
(unit)
(unit)
1750
100
1700
200
1650
300
1580
400
1480
500
1300
600
1090
700
850
800
590
900
300
1000
Table 2.1
a. Demonstrate the production of the two goods based on Table 2.1 on a graph paper, with
Good U on the x-axis and Good Z on the y-axis.
b. Compute the marginal rate of product transformation (MRPT) when output level of Good
U increases from one level to another (0 to 1000 units).
c. What is the opportunity cost per unit when the output level of Good U increases from 700
units to 800 units?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc4b27578-becf-45e6-8799-df84a4c8a787%2F0b77013f-3b78-432f-bc5d-4119c4d920e7%2Fyq2ide4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Good U
Good Z
(unit)
(unit)
1750
100
1700
200
1650
300
1580
400
1480
500
1300
600
1090
700
850
800
590
900
300
1000
Table 2.1
a. Demonstrate the production of the two goods based on Table 2.1 on a graph paper, with
Good U on the x-axis and Good Z on the y-axis.
b. Compute the marginal rate of product transformation (MRPT) when output level of Good
U increases from one level to another (0 to 1000 units).
c. What is the opportunity cost per unit when the output level of Good U increases from 700
units to 800 units?
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