4. Using the Production Possibilities Curve below answer questions a, b and c 50 48 40 Consumption 30 goods 25 20 10 0 O 10 20 30 40 Capital goods a. In the graph above, if the economy moves from point L to point M, the opportunity cost of producing 10 more capital goods is: b. In the graph above, if the economy produces no capital goods, what is the maximum number of consumer goods that can be produced?? c. In the graph above, the production possibilities curve demonstrates:

4. Using the Production Possibilities Curve below answer questions a, b and c 50 48 40 Consumption 30 goods 25 20 10 0 O 10 20 30 40 Capital goods a. In the graph above, if the economy moves from point L to point M, the opportunity cost of producing 10 more capital goods is: b. In the graph above, if the economy produces no capital goods, what is the maximum number of consumer goods that can be produced?? c. In the graph above, the production possibilities curve demonstrates:

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter2: Economic Tools And Economic Systems

Section: Chapter Questions

Problem 3.6P

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