Table 2.1.1The following table gives points on the production possibilities frontier for goods Xand Y.Point Production of X Production of YABC) 4 units of Y.OD) 8 units of Y.E) 4 units of X.CDE0481216403628160Refer to Table 2.1.1. The opportunity cost of increasing the production of X from 8to 12 units isOA) 12 units of Y.B) 16 units of Y.

Opportunity cost refers to the potential benefits that an individual, business, or society forgoes…

Table 2.1.1 The following table gives points on the production possibilities frontier for goods X and Y. Point A B C D E E) 4 units of X. Production of X Production of Y 0 40 4 36 8 28 12 16 16 0 Refer to Table 2.1.1. The opportunity cost of increasing the production of X from 8 to 12 units is A) 12 units of Y. OB) 16 units of Y. OC) 4 units of Y. OD) 8 units of Y.

Table 2.1.1 The following table gives points on the production possibilities frontier for goods X and Y. Point A B C D E E) 4 units of X. Production of X Production of Y 0 40 4 36 8 28 12 16 16 0 Refer to Table 2.1.1. The opportunity cost of increasing the production of X from 8 to 12 units is A) 12 units of Y. OB) 16 units of Y. OC) 4 units of Y. OD) 8 units of Y.

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Chapter1: Making Economics Decisions

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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

Table 2.1.1
The following table gives points on the production possibilities frontier for goods X
and Y.
Point Production of X Production of Y
A
B
C) 4 units of Y.
OD) 8 units of Y.
E) 4 units of X.
C
D
E
0
4
8
12
16
40
36
28
16
0
Refer to Table 2.1.1. The opportunity cost of increasing the production of X from 8
to 12 units is
OA) 12 units of Y.
B) 16 units of Y.

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