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3.Suppose the following table shows the production possibilities for an economy. Production Point Good X Good Y A 8 5 B 5 10 U 5

3.Suppose the following table shows the production possibilities for an economy.

Production Point Good X Good Y

A 8 5

B 5 10

U 5 5

a.What is the opportunity cost of moving from point A to point B

b. What is the opportunity cost of moving from point B to point A?

c. What is the opportunity cost of moving from point U to point A?

d. Suppose points A and B are on the production possibility frontier. What conclusion can be drawn about production point U?

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