Homework (Ch 02) Gilberto is a skilled toy maker who is able to produce both trains and drums. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Hours Producing Produced Choice (Trains) (Drums) (Trains) (Drums) 13 D 15 E 16 On the following graph, use the blue points (circle symbol) to plot Gilberto's initial production possibilities frontier (PPF). 30 25 Initial PPF 20 New PPF 15 10 TRAINS Suppose Gilberto is currently using combination D, producing one train per day. His opportunity cost ofproducing a second train per day is SNRUG
Homework (Ch 02) Gilberto is a skilled toy maker who is able to produce both trains and drums. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Hours Producing Produced Choice (Trains) (Drums) (Trains) (Drums) 13 D 15 E 16 On the following graph, use the blue points (circle symbol) to plot Gilberto's initial production possibilities frontier (PPF). 30 25 Initial PPF 20 New PPF 15 10 TRAINS Suppose Gilberto is currently using combination D, producing one train per day. His opportunity cost ofproducing a second train per day is SNRUG
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Homework (Ch 02)
Gilberto is a skilled toy maker who is able to produce both trains and drums. He has 8 hours a day to produce toys. The following table shows the daily
output resulting from various possible combinations of his time.
Hours Producing
Produced
Choice
(Trains)
(Drums)
(Trains)
(Drums)
13
D
15
E
16
On the following graph, use the blue points (circle symbol) to plot Gilberto's initial production possibilities frontier (PPF).
30
25
Initial PPF
20
New PPF
15
10
TRAINS
Suppose Gilberto is currently using combination D, producing one train per day. His opportunity cost ofproducing a second train per day is
SNRUG
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