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I require help with this question please, thank you. Suppose the following table shows the production possibilities for an economy. Production Point Good X Good
I require help with this question please, thank you.
Suppose the following table shows the production possibilities for an economy.
Production Point Good X Good Y
A 8 5
B 5 10
U 5 5
a.For good Y, what is the opportunity cost of moving from point A to point B?
b.For good X, what is the opportunity cost of moving from point B to point A?
c.For good X, what is the opportunity cost of moving from point U to point A?
d. Suppose points A and B are on the production possibility frontier. What conclusion can be drawn about production point U?
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