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Author Question: shows the production possibilities boundary for an economy that produces two goods-cotton ... (Read 455 times)

swande

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on: Oct 12, 2022

Figure 1-7 shows the production possibilities boundary for an economy that produces two goods-cotton and bananas.



FIGURE 1-7

Refer to Figure 1-7. A production possibilities boundary is shown for an economy that produces two goods-cotton and bananas, both measured in tonnes produced per year. Suppose this economy moves from point D to point F, where it is then producing bananas exclusively. Which of the following explanations best describes the opportunity cost involved in producing this extra 100 tonnes of bananas?


◦ The opportunity cost is very low in this case because resources that are probably much better suited to producing cotton are now being devoted to producing bananas.
◦ The opportunity cost is very high in this case because resources that are probably much better suited to producing bananas are now being devoted to producing cotton.
◦ The opportunity cost of producing the extra bananas is independent of the amount being produced.
◦ The opportunity cost is very low in this case because resources that are probably much better suited to producing bananas are now being devoted to producing cotton.
◦ The opportunity cost is very high in this case because resources that are probably much better suited to producing cotton are now being devoted to producing bananas.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by swande on Oct 12, 2022

kalimarie

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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swande

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

pratush dev

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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