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An American worker can produce either 5 cars or 9 tons of grain a year. A Japanese worker can produce either 3 cars or 9
An American worker can produce either cars or tons of grain a year. A Japanese worker can produce either cars or tons of grain a year. To keep things simple, assume that each country has million workers.
Complete the following table with the number of workers needed to make one car or ton of grain in the United States and Japan.
tableWorkers Needed to Make Car, Ton of Grain,United States,
Use the blue line circle symbol to graph the production possibilities frontier for the American economy. Then use the green line triangle symbol to graph the production possibilities frontier for the Japanese economy.
Complete the following table by determining the opportunity cost of a car and of a ton of grain for both the United States and Japan.
tableOpportunity Cost ofIn terms of tons of grain given upIn terms of cars given upUnited States,grad,
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