Assignment 1

Question 3) Utopia produces only two products: cheese and wine. The production levels are shown in the table below. Cheese Wine % inputs output % inputs output 0 0 0 20 60 20 80 40 100 40 140 60 130 60 190 80 150 80 210 100 160 100 220 a. From this data, complete Utopia's production possibilities table below. (5 Marks) Possibility A B C D E F Cheese 0 Wine 0 b. Utopia (Click to select) produce 130 cheese and 190 wine. H c. If Utopia is at D, the total cost of 20 more cheese is wine. d. If Utopia is at D, the total cost of 50 more wine is cheese