Question

2. Assume that a certain simplified economy produces only two goods, X and Y, with given resources and technology. The following table gives the various possible combinations of the production of the two goods (all units are measured in millions of tons).
Production Possibility Good X Good Y Opportunity Cost of Good X
A 0 100 B 2 90 C 4 60 D 6 20 a) Calculate the opportunity cost of the production of good X at
each point. (2 points)
b) What changes are required for this economy to shift the PPF outward?

Answer 1

Answer:

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