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all parts to be answered. A small country produces two goods: geranium plants and sprinklers. Points on a production possibilities frontier can be shown in
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A small country produces two goods: geranium plants and sprinklers. Points on a production possibilities frontier can be shown in a table or graph. Answer the following questions using the table below: ( 10 points) a.Draw the production possibilities frontier using the information in the table. Be careful-be sure to consider the shape a PPF for two such goods should have! b. Explain why the PPF has the shape that it does. c. What is the opportunity cost of increasing the number of geraniums produced by 100 , given that the economy is now producing at point B ? d. Assume the economy is producing at point A. What is the opportunitycost of increasing the number of geraniums by 200 ? e. Suppose that a new type of fertilizer is introduced in this country. It makes geraniums grow twice as fast in the same amount of time as before. Show how the PPF will be affected by drawing in a new PPF on the same graph as the one you drew in part a A small country produces two goods: geranium plants and sprinklers. Points on a production possibilities frontier can be shown in a table or graph. Answer the following questions using the table below: ( 10 points) a.Draw the production possibilities frontier using the information in the table. Be careful-be sure to consider the shape a PPF for two such goods should have! b. Explain why the PPF has the shape that it does. c. What is the opportunity cost of increasing the number of geraniums produced by 100 , given that the economy is now producing at point B ? d. Assume the economy is producing at point A. What is the opportunitycost of increasing the number of geraniums by 200 ? e. Suppose that a new type of fertilizer is introduced in this country. It makes geraniums grow twice as fast in the same amount of time as before. Show how the PPF will be affected by drawing in a new PPF on the same graph as the one you drew in part a Step by Step Solution
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