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If a new type of seed were developed that made it easier to grow a particular crop, how would the production possibilities frontier for a farmer choosing between that crop and another one change?

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 8SQP

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Question

If a new type of seed were developed that made it easier to grow a particular crop, how would the production possibilities frontier for a farmer choosing between that crop and another one change?

Expert Solution

Introduction

Production possibility curve is a graphical presentation of all the possible combination of two goods which a society can produce by making full and efficient use of the given resources and the technology. The production possibility curve is a curve that shows the maximum production capacity of a society to produce any two goods with the given resources and technology.

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Tim and Alyssa are farmers. Each one owns a 12-acre plot of land. The following table shows the amount of alfalfa and barley each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing alfalfa or barley or to produce alfalfa on some of the land and barley on the rest. Plot the Product Possibilities Frontier of Alyssa and the Product Possibilities Frontier of Tim.
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