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Author Question: The figure above shows a nation's production possibilities frontier for apples and oranges. a) ... (Read 137 times)

tatyanajohnson

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on: Jun 29, 2018
The figure above shows a nation's production possibilities frontier for apples and oranges.
 
  a) What combination of goods is represented by point A?
  b) What combination of goods is represented by point B?
  c) Which point represents an unattainable combination of goods?

Question 2

The firm in the figure above is in monopolistic competition. It will produce
 
  A) 10 units.
  B) 20 units.
  C) 30 units.
  D) 40 units.


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jackie

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Reply #1 on: Jun 29, 2018
Answer to Question 1

a) 3 million bushels of apples and 3 million bushels of oranges
b) 3 million bushels of apples and 4 million bushels of oranges
c) Point B is an unattainable point.

Answer to Question 2

B


tatyanajohnson

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Reply #2 on: Jun 29, 2018
Thank you :)


jackie

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Reply #3 on: Jun 29, 2018
Happy to help you


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