3. (LO 6) Table 1.12 shows the production possibilities for the country of Emilon.

A B C D E Rice 0 50 90 120 140 Beef 50 45 35 20 0 TABLE 1.12 CHEESE WINE

% Inputs Output % Inputs Output 0 0 0 0 20 30 20 40 40 50 40 70 60 65 60 95 80 75 80 105 100 80 100 110 TABLE 1.13

a) What is the total cost of producing 90 rice?

Answer: (rice/beef)

b) What is the total cost of going from possibility C to possibility D?

Answer: (rice/beef)

c)What is the approximate per-unit cost of going from possibility C to possibility D?

Answer: (rice/beef)

d) What is the total cost of going from possibility D to possibility C?

Answer: (rice/beef)

Intermediate Basic (Problems 4–7)