Posted by Cathy on .
Consider the following production possibilities table:
Option Y X
A 0 100
B 80 80
C 120 50
D 140 10
a)Provide a measure of the approximate marginal opportunity cost of an additional unit of X for each interval. Is the law of increasing cost satisfied? Explain
b) Is the production of 100 units of X and 85 units of Y feasible? Why or why not? If so, is it efficient?
C)Is the production of 80 units of X and 75 units of Y feasible? Why or why not? If so, is it efficient?