Suppose an economy has a production possibility frontier characterized by the equation X2+ 4Y2= 100

a. In order to sketch this equation, first compute its intercepts. What is the value of X if Y = 0? What is the value of Y if X = 0?

b. Calculate three additional points along this production possibility frontier. Graph the frontier and show that it has a general elliptical shape.

c. Is the opportunity cost of X in terms of Y constant in this economy, or does it depend on the levels of output being produced? Explain.

d. How would you calculate the opportunity cost of X in terms of Y in this economy? Give an example of this computation.