No1234567a Point 1 to point 2b. Point 2 to point 3CPoint 3 to point 4d. Point 4 to point 5ManufacturedePoint 5 to point 6f Point 6 to point 7020406080100120Construction1. Draw the production possibilities curve from the above information2. From the curve what is the opportunity cost of moving from16515513511080450Construction 23. Explain the reason the increasing opportunity cost4. Also calculate the Marginal Rate Substitution of Manufactured for Constructiongoods.5. On the graph insert the points (10, 155) and (30, 170) and points 8 and 9aComment on the inserted pointsb. What is the cost of moving from point back to the production possibilitiesfrontier?18517515513512016525

Production possibility frontier is defined as the various production goods or commodities at the…

No 1 12 . 3 4 15 6 7 Manufactured a. Point 1 to point 2 b. Point 2 to point 3 0 20 40 60 80 100 120 Construction 1. Draw the production possibilities curve from the above information 2. From the curve what is the opportunity cost of moving from 165 155 135 110 80 45 c. Point 3 to point 4 d. Point 4 to point 5 e. Point 5 to point 6 f Point 6 to point 7 3. Explain the reason the increasing opportunity cost 63 0 Construction 2 185 175 155 135 120 165 25

No 1 12 . 3 4 15 6 7 Manufactured a. Point 1 to point 2 b. Point 2 to point 3 0 20 40 60 80 100 120 Construction 1. Draw the production possibilities curve from the above information 2. From the curve what is the opportunity cost of moving from 165 155 135 110 80 45 c. Point 3 to point 4 d. Point 4 to point 5 e. Point 5 to point 6 f Point 6 to point 7 3. Explain the reason the increasing opportunity cost 63 0 Construction 2 185 175 155 135 120 165 25

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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