Question No 2: Below is a production possibilities table for consumer goods (automobiles) and capital goods (computers). Show these data graphically, what are the assumptions? If economy is producing 3 automobiles and 20 computers, what could you conclude about its use of available resources? Is production at a point outside the production possibilities curve currently possible? Type of Production/ Alternatives Automobiles Computers A 0 30 B 2 27 C 4 21 D 6 12 E 8 0
Question No 2: Below is a production possibilities table for consumer goods (automobiles) and capital goods (computers). Show these data graphically, what are the assumptions? If economy is producing 3 automobiles and 20 computers, what could you conclude about its use of available resources? Is production at a point outside the production possibilities curve currently possible? Type of Production/ Alternatives Automobiles Computers A 0 30 B 2 27 C 4 21 D 6 12 E 8 0
Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
Section: Chapter Questions
Problem 6SQP
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Question No 2:
Below is a production possibilities table for consumer goods (automobiles) and capital goods (computers). Show these data graphically, what are the assumptions? If economy is producing 3 automobiles and 20 computers, what could you conclude about its use of available resources? Is production at a point outside the production possibilities curve currently possible?
Type of Production/ Alternatives |
Automobiles |
Computers |
A |
0 |
30 |
B |
2 |
27 |
C |
4 |
21 |
D |
6 |
12 |
E |
8 |
0 |
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