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2. Use the production possibilities frontier below to answer the accompanying questions. 1000 Tons of Corn 800 600 400 200 150 350 500 650 800
2. Use the production possibilities frontier below to answer the accompanying questions. 1000 Tons of Corn 800 600 400 200 150 350 500 650 800 Tons of Wheat What can be said about the combination of 800 tons of wheat and 1000 tons of com? b. What can be said about the combination of 600 tons of corn and 350 tons of wheat? c. What can be said about the combination of 500 tons of wheat and 200 tons of corn? d. What is the opportunity cost of moving from point A to point D? e. What is the opportunity cost of moving from point F to point C? f. What is the per-unit opportunity cost of producing wheat for this society? g. What is the per-unit opportunity cost of producing corn for this society? h. Suppose this society was offered a trade of 1 ton of wheat in exchange for 3 tons of corn. Would this society benefit from such a trade? Why, or why not
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