2. Suppose that society could produce the following combinations of pizzas and books: Alternative Quantity of pizzas Quantity of books 50 40 30 20 10 0 A B C D E F a. b. C. 0 10 18 24 28 30 Draw the production-possibilities frontier (PPF) for pizza and books, being as exact and neat as possible. (Put books on the horizontal axis. Assume that the dots define a complete curve.) Is it possible or efficient for this society to produce 25 pizzas and 25 books? Is it possible or efficient for this society to produce 42 pizzas and 1 book?
2. Suppose that society could produce the following combinations of pizzas and books: Alternative Quantity of pizzas Quantity of books 50 40 30 20 10 0 A B C D E F a. b. C. 0 10 18 24 28 30 Draw the production-possibilities frontier (PPF) for pizza and books, being as exact and neat as possible. (Put books on the horizontal axis. Assume that the dots define a complete curve.) Is it possible or efficient for this society to produce 25 pizzas and 25 books? Is it possible or efficient for this society to produce 42 pizzas and 1 book?
Chapter13: General Equilibrium And Welfare
Section: Chapter Questions
Problem 13.3P
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