Question
A farmer can feed any combination of animals within the following range: Pigs Cows 84 12 75 15 Given the option available to him, what
- A farmer can feed any combination of animals within the following range:
Pigs | Cows |
84 | 12 |
75 | 15 |
Given the option available to him, what is the opportunity cost to the farmer ofrearing one cow?
2. Figure below presents a production-possibility frontier for food and clothing.
a. What is the opportunity cost of increasing food production from 0 to 2 million units, from 2 million to 4 million units, and from 4 million to 6 million units?
b. What is happening to the opportunity cost of increasing food production from 0 to 6 million units?
c. Explain how the shape of the production-possibility frontier implies increasing costs for the production of clothing.
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