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Author Question: shows the production possibilities boundary for an economy that produces two goods-cotton ... (Read 383 times)

eboni

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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. Which of the following statements best describes the difference in opportunity costs that this economy faces at point A compared to point E?


◦ The opportunity cost of producing an extra tonne of bananas is much lower at point A than at point E.
◦ The opportunity cost is 500 tonnes of cotton at point A, compared to 1500 tonnes at point E.
◦ The opportunity cost of producing an extra tonne of bananas is the same at point A as at point E.
◦ The opportunity cost is 1500 tonnes of cotton at point A, compared to 500 tonnes at point E.
◦ The opportunity cost of producing an extra tonne of bananas is much higher at point A than at point E.
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Marked as best answer by eboni on Oct 12, 2022

Kevin5!

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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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eboni

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

Zebsrer

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

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