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Second part of question 20 10 10 20 30 40 50 60 70 80 Rice (000 tons ) Use the Nepal production table and production

Second part of question

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20 10 10 20 30 40 50 60 70 80 Rice (000 tons ) Use the Nepal production table and production possibility frontier to answer the following questions. (a) Name positions B. V and D. Explain the implications of each of the production positions (B. V. D) on Nepal's economy. (b) Supposing Nepal is operating at level T what is the opportunity cost of producing 10,000 more tons of rice? Also, suppose Nepal is operating at X what is the opportunity cost of producing 70 units of machinery? HI5003 Economics for Business - Tutorial Question Week 2 Page 1 of 2

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