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October 21, 2014

October 21, 2014

Posted by **Susan** on Sunday, December 6, 2009 at 4:28am.

Solution:

A straight line from (X=20, Y=0) to (X=0, Y=40).

Explanation:

If society devotes all resources to making X, X = 20. If society devotes all resources to making Y, Y = 40. The production possibility frontier is a straight line because there are constant returns to scale for both goods.

- Economics (Production Possibility Frontiers) -
**economyst**, Monday, December 7, 2009 at 1:13pmI think it is line from (X=8.94, Y=0 to (X=0, Y=40). The line will be in a bow-shape.

(I presume by: X = K1/2L1/2 means K and L are raised to the 1/2 power.)

To see this, plot a graph. (Excel spreadsheets would be very helpful here).

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