Section A Look at the following 1. Draw the production possibilities curve (PPC) for New 48 A 44 A B 40 36 32 28 c Consumer goods 24 22 D 20 16 12 8 PP2 PP1 4 E 0 8 16 24 32 Harmony 2. What is the total cost of the first 14 capital goods produced? 3. Assuming the economy is producing combination B, what is the approximate per-unit cost of an additional capital good? 4. Assuming the economy is producing combination C, what is the approximate per-unit cost of an additional capital good? Section B 1. State whether the following is a land, labour, capital or enterprise a. An irrigation ditch in Manitoba b. he work done by Jim Plum, a labourer who helped dig the irrigation ditch c. lake d. air e. The efforts of the founder and primary innovator of a successful new software company, Section A Look at the following 1. Draw the production possibilities curve (PPC) for New 48 A 44 A B 40 36 32 28 c Consumer goods 24 22 D 20 16 12 8 PP2 PP1 4 E 0 8 16 24 32 Harmony 2. What is the total cost of the first 14 capital goods produced? 3. Assuming the economy is producing combination B, what is the approximate per-unit cost of an additional capital good? 4. Assuming the economy is producing combination C, what is the approximate per-unit cost of an additional capital good? Section B 1. State whether the following is a land, labour, capital or enterprise a. An irrigation ditch in Manitoba b. he work done by Jim Plum, a labourer who helped dig the irrigation ditch c. lake d. air e. The efforts of the founder and primary innovator of a successful new software company