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Module 1 assignment Suppose a production possibilities frontier includes the following combinations:

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Subject: Economics
Due on: 01/31/2015
Posted On: 09/15/2014 01:07 PM

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.5pt;text-indent:-22.5pt; mso-hyphenate:none;tab-stops:decimal 12.0pt left 22.5pt">Suppose a production possibilities frontier includes the following combinations:
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Cars Washing Machines

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0 1,000

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100 600

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200 0

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a. Graph the PPF, assuming that it has no curved segments.

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b. What is the cost of producing an additional car when 50 cars are being produced?

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Let’s redraw the PPF to reflect the cars on the x-axis and the Washing Machines on the Y-Axis

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c. What is the cost of producing an additional car when 150 cars are being produced?

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d. What is the cost of producing an additional washing machine when 50 cars are being produced? When 150 cars are being produced?

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e. What do your answers tell you about opportunity costs?

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ECON 251 Principles of Macroeconomics: Module 1 assignment Suppose a production possibilities frontier includes

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Posted On: 09/15/2014 01:09 PM
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Preview: produced?Slope xx this xxxx is: (1000-0)/(0-200) x -5So, Cost xx producing xx xxxxxxxxxx washing xxxxxxx will be xxxxx to cost xx producing xxx x 0 xx cars The xxxxxx will remain xxxx even xxxx xxx cars xxxx be produced xxxx answer will xxxxxx if xx xxxxxxxx the xxx to be xxxxxx What do xxxx answers xxxx.....
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