Question
1. Given the following data for two goods of an economy To B C D E E F Calculators 21 20 18 15 11 6
1. Given the following data for two goods of an economy
To | B | C | D | E | E | F | |
Calculators | 21 | 20 | 18 | 15 | 11 | 6 | 0 |
Boats | 0 | 1 | 2 | 3 | 4 | 5 | 6 |
i) Calculate opportunity cost of moving from D to E of the ship and from D to E of the calculatorS
ii) Plot the production possibilities frontier for the two goodS
iii) Calculate the different opportunity costS
2. An economy must decidebetween devoting its resources to the production of food or automobiles in a year. The options you have to choose from are aS:
OPTION | FOODS | CARS |
A | 5.000 | 0 |
B | 4.000 | 500 |
C | 3.900 | 1.200 |
D | 3.200 | 1.600 |
And | 2.500 | 2.000 |
F | 1.600 | 2.400 |
- Graphically represent the production possibilities frontier FPP
- If there were points outside the border, what would they indicate? It also explains the meaning of the points within the border and those that exist on the bordER.
- Is the FPP curve concave or convex? What does it mean that it has that shape?
- Calculate the different opportunity costs.
I need help understanding how to do this and how to graphic in excel.
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