crayola14
Oct 19, 2011, 10:22 AM
What is the opportunity cost of producing 1 comb at point M as production moves from point N to point M
The table below shows the tradeoff between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X, ceteris paribus.
Combinations Number of Brushes Number of Combs
J ,0 ,4
K ,10, 3
L ,17 ,2
M ,21 ,1
N ,23 ,0
Does the data support the law of increasing opportunity cost?
C) Given the data, what do you expect to be the shape of the Production Possibilities curve?
The table below shows the tradeoff between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X, ceteris paribus.
Combinations Number of Brushes Number of Combs
J ,0 ,4
K ,10, 3
L ,17 ,2
M ,21 ,1
N ,23 ,0
Does the data support the law of increasing opportunity cost?
C) Given the data, what do you expect to be the shape of the Production Possibilities curve?