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4. The following is the production combinations for IKEA. Chairs Tables 0 8 15 -NWAUO 21 26 30 33 0 a. Using the information below,
4. The following is the production combinations for IKEA. Chairs Tables 0 8 15 -NWAUO 21 26 30 33 0 a. Using the information below, draw the Production Possibility Frontier curve. Put Chairs on your Y axis and Tables on your X axis. b. What is the opportunity cost of the 1" table? C. What is the opportunity cost of the 3"d table? d. What is the opportunity cost of the 6th table? e. What is the opportunity cost of the first 6 tables? If the company developed new technology to produce Tables, how would that affect the PPF? Show on your graph. If the company developed new technology to produce Chairs, how would that affect the PPF? Show on your graph. h. If the company hired more employees to work in producing both goods, how would that affect the PPF? Show on your graph
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