Suppose Valerie is currently using combination D, producing one crochet hat per day. Her opportunity cost of producing a second crochet hat per day per day. is Now, suppose Valerie is currently using combination C, producing two crochet hats per day. Her opportunity cost of producing a third crochet hat per day is per day. From the previous analysis, you can determine that as Valerie increases her production of crochet hats, her opportunity cost of producing one more crochet hat Suppose Valerie buys a new tool that enables her to produce twice as many crochet hats per hour as before, but it doesn't affect her ability to produce baskets. Use the green points (triangle symbol) to plot her new PPF on the previous graph.. Because she can now make more crochet hats per hour, Valerie's opportunity cost of producing baskets is it was previously.
Suppose Valerie is currently using combination D, producing one crochet hat per day. Her opportunity cost of producing a second crochet hat per day per day. is Now, suppose Valerie is currently using combination C, producing two crochet hats per day. Her opportunity cost of producing a third crochet hat per day is per day. From the previous analysis, you can determine that as Valerie increases her production of crochet hats, her opportunity cost of producing one more crochet hat Suppose Valerie buys a new tool that enables her to produce twice as many crochet hats per hour as before, but it doesn't affect her ability to produce baskets. Use the green points (triangle symbol) to plot her new PPF on the previous graph.. Because she can now make more crochet hats per hour, Valerie's opportunity cost of producing baskets is it was previously.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter3: Interdependence And The Gains From Trade
Section: Chapter Questions
Problem 3CQQ
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