Possibility Entertainment (E) Good food (F) (units) (units) A 90 60 20 30 30 35 Consider the above PPF. What is the opportunity cost of 1 unit of good food as the island moves from possibility A to possibility B? O 3/2 units of entertainment 30 units of entertainment

Possibility Entertainment (E) Good food (F) (units) (units) A 90 60 20 30 30 35 Consider the above PPF. What is the opportunity cost of 1 unit of good food as the island moves from possibility A to possibility B? O 3/2 units of entertainment 30 units of entertainment

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.

Question

TITIT
Possibility
Entertainment (E)
(units)
Good food (F)
(units)
A
90
B
60
20
C
30
30
D
35
Consider the above PPF. What is the opportunity cost of 1 unit of good food as the
island moves from possibility A to possibility B?
3/2 units of entertainment
30 units of entertainment
O 2/3 units of entertainment
1/3 units of entertainment

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