1. 1.11 Production Possibilities Curve. Consider a nation that produces baseball mitts and soccer balls. The fol lowing table shows the possible combinations of the two products.

baseball mitts (millions) 0 2 4 6 8 Soccer balls (millions) 30 24 18 10 0

a. Draw a production possibilities curve with mitts on the horizontal axis and balls on the vertical axis.

b. Suppose the technology for producing mitts improves, meaning that fewer resources are needed for each mitt. In contrast, the technology for pro ducing soccer balls does not change. Draw a new production possibilities curve.

c. The opportunity cost of the first 2 million mitts is __________ million soccer balls and the opportunity cost of the last 2 million mitts is __________ million soccer balls.