Suppose that the nation of Copperton produces nutmeg and cinnamon. Below are the possible combinations of nutmeg and cinnamon that Copperton can produce. Combination Cinnamon metric tons (X axis) Nutmeg metric tons (Y axis) 7,000 0 6,000 4,500 2,500 A B C D 7,000 11,000 14,000 16,000 What is the opportunity cost (amount & item) of the first 2,500 tons of cinnamon produced? What is the opportunity cost (amount & item) of increasing production from 2,500 tons of cinnamon to 4,500 tons of cinnamon ? [ What is the opportunity cost (amount & item) of increasing production from 4,500 tons of cinnamon to 6.000 tons of cinnamon ? [ What is the opportunity cost (amount & item) of increasing production from 6,000 tons of cinnamon to 7.000 tons of cinnamon ? What is happening to the opportunity cost as Copperton produces more cinnamon? What is the opportunity cost (amount & item) of the first 7,000 tons of nutmeg produced? What is the opportunity cost (amount & item) of increasing production from 7.000 tons of nutmeg to 11.000 tons of nutmeg? What is the opportunity cost (amount & item )of increasing production from 11.000 tons of nutmeg to 14,000 tons of nutmeg? What is the opportunity cost (amount & item) of increasing production from 14,000 tons of nutmeg to 16,000 tons of nutmeg? Chick Save and Submit to save and submit. Click Save All Answers to save all annivers
Suppose that the nation of Copperton produces nutmeg and cinnamon. Below are the possible combinations of nutmeg and cinnamon that Copperton can produce. Combination Cinnamon metric tons (X axis) Nutmeg metric tons (Y axis) 7,000 0 6,000 4,500 2,500 A B C D 7,000 11,000 14,000 16,000 What is the opportunity cost (amount & item) of the first 2,500 tons of cinnamon produced? What is the opportunity cost (amount & item) of increasing production from 2,500 tons of cinnamon to 4,500 tons of cinnamon ? [ What is the opportunity cost (amount & item) of increasing production from 4,500 tons of cinnamon to 6.000 tons of cinnamon ? [ What is the opportunity cost (amount & item) of increasing production from 6,000 tons of cinnamon to 7.000 tons of cinnamon ? What is happening to the opportunity cost as Copperton produces more cinnamon? What is the opportunity cost (amount & item) of the first 7,000 tons of nutmeg produced? What is the opportunity cost (amount & item) of increasing production from 7.000 tons of nutmeg to 11.000 tons of nutmeg? What is the opportunity cost (amount & item )of increasing production from 11.000 tons of nutmeg to 14,000 tons of nutmeg? What is the opportunity cost (amount & item) of increasing production from 14,000 tons of nutmeg to 16,000 tons of nutmeg? Chick Save and Submit to save and submit. Click Save All Answers to save all annivers
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:### Production Possibilities in Copperton: Nutmeg and Cinnamon
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#### Context:
Suppose that the nation of Copperton produces nutmeg and cinnamon. Below are the possible combinations of nutmeg and cinnamon that Copperton can produce.
**Table: Possible Combinations of Nutmeg and Cinnamon Production**
| Combination | Cinnamon Metric Tons (X Axis) | Nutmeg Metric Tons (Y Axis) |
|:-----------:|:-----------------------------:|:----------------------------:|
| A | 7,000 | 0 |
| B | 6,000 | 3,000 |
| C | 4,500 | 7,000 |
| D | 2,500 | 14,000 |
| E | 1,000 | 16,000 |
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#### Questions:
1. **What is the opportunity cost (amount & item) of the first 2,500 tons of cinnamon produced?**
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2. **What is the opportunity cost (amount & item) of increasing production from 2,500 tons of cinnamon to 4,500 tons of cinnamon?**
\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
3. **What is the opportunity cost (amount & item) of increasing production from 4,500 tons of cinnamon to 6,000 tons of cinnamon?**
\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
4. **What is the opportunity cost (amount & item) of increasing production from 6,000 tons of cinnamon to 7,000 tons of cinnamon?**
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5. **What is happening to the opportunity cost as Copperton produces more cinnamon?**
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