The following graph shows the production possibilities curve for the economy with only two members, Silvia and Art. Silvia can produce either 50 pounds of beef or 2 computers per week, and Art can produce 100 pounds of beef or 1 computer per week. Both of them work 40 weeks per year. Beef(pounds/year) 11000 9000 7000 - 5000 3000 1000 O 20 O Multiple Choice O 60 XY. PQ. With the open trade economy, Silvia and Art can consume any combination of beef and computers from the line PY. Consumption possibilities 140 Computers (number/year) XYZ. 100 PPC 9 180 220

The following graph shows the production possibilities curve for the economy with only two members, Silvia and Art. Silvia can produce either 50 pounds of beef or 2 computers per week, and Art can produce 100 pounds of beef or 1 computer per week. Both of them work 40 weeks per year. Beef(pounds/year) 11000 9000 7000 - 5000 3000 1000 O 20 O Multiple Choice O 60 XY. PQ. With the open trade economy, Silvia and Art can consume any combination of beef and computers from the line PY. Consumption possibilities 140 Computers (number/year) XYZ. 100 PPC 9 180 220

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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