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Suppose that Ned can produce either potato chips or computer chips. If he only produces potato chips he can produce 50 in a day. If he only produces computer chips, he can produce 25 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. 50 50 49 45 40 40 35 30 Potato Chips 25 20 15 10 10 5 0 -O 0 -5 What is the opportunity cost of computer chip production in terms of potato chips? Ned's PPF 2 4/3 25 3/4 50 1/2 10 15 20 25 30 35 40 40 Computer Chips 45 45 50

Suppose that Ned can produce either potato chips or computer chips. If he only produces potato chips he can produce 50 in a day. If he only produces computer chips, he can produce 25 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. 50 50 49 45 40 40 35 30 Potato Chips 25 20 15 10 10 5 0 -O 0 -5 What is the opportunity cost of computer chip production in terms of potato chips? Ned's PPF 2 4/3 25 3/4 50 1/2 10 15 20 25 30 35 40 40 Computer Chips 45 45 50

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 12RQ: Why is a production possibilities frontier typically drawn as a curve, rather than a straight line?
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Suppose that Ned can produce either potato chips or computer chips. If he only produces potato chips he can produce 50 in a day. If he only produces computer chips, he can produce 25 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. 50 50 49 45 40 40 35 30 Potato Chips 25 20 15 10 10 5 0 -O 0 -5 What is the opportunity cost of computer chip production in terms of potato chips? Ned's PPF 2 4/3 25 3/4 50 1/2 10 15 20 25 30 35 40 40 Computer Chips 45 45 50
Transcribed Image Text:Suppose that Ned can produce either potato chips or computer chips. If he only produces potato chips he can produce 50 in a day. If he only produces computer chips, he can produce 25 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. 50 50 49 45 40 40 35 30 Potato Chips 25 20 15 10 10 5 0 -O 0 -5 What is the opportunity cost of computer chip production in terms of potato chips? Ned's PPF 2 4/3 25 3/4 50 1/2 10 15 20 25 30 35 40 40 Computer Chips 45 45 50
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