The people of Leisure Island have 50 hours of labor a day that can be used to produce entertainment and good food.EntertainmentGood foodThe table shows the maximum quantity of either entertainment or good food that Leisure Island can produce with different quantities oflabor.Labor(units)(units)orWhat is the opportunity cost of producing an additional unit of entertainment?1020or602040or100How does the opportunity cost of producing a unit of entertainment change as more entertainment is produced?3060or120>>> Answer to 1 decimal place below.4080130or50100or134When Leisure Island produces 20 units of entertainment and 100 units of food, the opportunity cost of producing an additional unit ofentertainment is 0 units of food.When production is 40 units of entertainment and 120 units of food a day, the opportunity cost of producing another unit ofentertainment is 1.0 units of food.When production is 60 units of entertainment and 100 units of food a day, the opportunity cost of producing another unit ofentertainment is 2.0 units of food.When Leisure Island is producing on its PPF, the opportunity cost of producing a unit of entertainmentis produced.as more entertainmentA. decreasesB. does not changeC. increases and then decreasesD. increases

ment is o' units of food. oduction is 40 units of entertainment and 120 units of food a day, the opportunity cost of producing another unit of ment is 1.0 units of food. oduction is 60 units of entertainment and 100 units of food a day, the opportunity cost of producing another unit of ment is 2.0 units of food. isure Island is producing on its PPF, the opportunity cost of producing a unit of entertainment, ed. as more entertainment ecreases

ment is o' units of food. oduction is 40 units of entertainment and 120 units of food a day, the opportunity cost of producing another unit of ment is 1.0 units of food. oduction is 60 units of entertainment and 100 units of food a day, the opportunity cost of producing another unit of ment is 2.0 units of food. isure Island is producing on its PPF, the opportunity cost of producing a unit of entertainment, ed. as more entertainment ecreases

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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