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13. The hypothetical figures in Table 2.9 give five alternating combinations of steel and automobiles that Japan and South Korea can produce if they fully

13. The hypothetical figures in Table 2.9 give five alternating combinations of steel and automobiles that Japan and South Korea can produce if they fully utilize all the factors of production at their disposal with the best available technology. On graph paper, draw the production possibility curves for Japan and South Korea. Locate the steel on the vertical axis and the cars on the horizontal axis of each nation's graph.

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TABLE 2.9 STEEL AND AUTOMOBILE PRODUCTION JAPAN SOUTH KOREA STEEL (TON) AUTOMOBILE STEEL (TON) AUTOMOBILE 520 0 1200 0 500 600 900 400 350 1100 600 650 200 1300 200 800 0 1430 0 810

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