Hubert and Kate are farmers, each one owns a 12 acre plot of land. The following table shows the amount of corn and rye each farmer can produce per year on a given acre. Each farmer choose whether to devote all acres to producing corn or rye or to produce corn on some of the land and rye on the rest. Corn (Bushels per acre) Rye (Bushels per acre) Hubert 12 3 Kate 15 5 (a) Plot the PPF curve for Hubert and kate (b) What is Hubert’s opportunity cost of producing 1 bushel of rye? (c) What is the Kate’s opportunity cost of producing 1 bushel of rye?
Hubert and Kate are farmers, each one owns a 12 acre plot of land. The following table shows the amount of corn and rye each farmer can produce per year on a given acre. Each farmer choose whether to devote all acres to producing corn or rye or to produce corn on some of the land and rye on the rest.
Corn (Bushels per acre) Rye (Bushels per acre)
Hubert 12 3
Kate 15 5
(a) Plot the
(b) What is Hubert’s
(c) What is the Kate’s opportunity cost of producing 1 bushel of rye?
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 4 images
