Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Combination A B C D E F G Aircraft carriers 6 5 4 3 2 1 0 Health clinics 0 2000 3500 4500 5300 5800

Combination A B C D E F G
Aircraft carriers 6 5 4 3 2 1 0
Health clinics 0 2000 3500 4500 5300 5800 6000

The figure above illustrates the production possibilities frontier for a country. This nation produces two main goods,aircraft carriersandhealth clinics. Use the table to answer the questions below. Assume thataircraft carriers are on the x-axis andhealth clinicsare on the y-axis.

  1. According to the table above, if the economy produces two aircraft carriers, how many health clinics can it produce?
  2. What can you say about a combination of 4 aircraft carriers and 4500 health clinics? 3 What is the opportunity cost of producing the first 2,000 health clinics? (1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Economics Of The Sulphur Industry

Authors: Jared E Hazleton

1st Edition

1317353927, 9781317353928

More Books

Students also viewed these Economics questions

Question

4. Is crime caused by mental illness?

Answered: 1 week ago