Josh, Ben and John make pies and bread.The opportunity cost of making pies is 1/2 for Josh, 1 for Ben, and 2 for John.Their joint production possibilities frontier is depicted below:Loavesof Bread27AВ• E20C102429Pies14At point C, which of the following is true?a. Ben and Josh are producing only pies, John is producing only bread..Ob. Ben is producing all pies, Josh is producing pies and bread, John is producing only bread.Oc. Ben is producing both pies and bread, Josh is producing only pies, John is producing only bread.d. Ben is producing bread, Josh is producing pies and John is producing both pies and bread.

The Production Possibilities Frontier (PPF)/ creation plausibility boondocks is a diagram that shows…

Answered: The opportunity cost of making pies is…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The opportunity cost of making pies is 1/2 for Josh, 1 for Ben, and 2 for John. Their joint production possibilities frontier is depicted below: Loaves of Bread 27 A В • E 20 C 10 ......