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August 1, 2014

Homework Help: economics

Posted by jason on Monday, December 15, 2008 at 11:06pm.

I answered some questions. pls check if they are correct and pls help in questions e and f.

Production Possibilities

Possibility Maximum Units of Good A Maximum Units of Good B
a 200 0
b 180 60
c 160 100
d 100 160
e 40 200
f 0 220


a. Plot these production possibilities, label the points, and draw the PPF (put good B on the x-axis).
b. If the economy moves from possibility c to possibility d, the opportunity cost unit of good B will be how many units of good A? 60
c. If the economy moves from possibility d to possibility e, the opportunity cost unit of good B will be how many units of good A? 40
d. In general terms, what happens to the opportunity cost of good B as the output of good B increases? Good rises and society produces more of that good
e. In general terms, what happens to the opportunity cost of good A as the output of good A increases?
f. What do the results in questions d & e imply about resources?

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