Question
Suppose Sri Lanka produces two commodies: wheat and cloth. Use the production possibility schedule to answer the questions below. A B C D E F
Suppose Sri Lanka produces two commodies: wheat and cloth. Use the production possibility schedule to answer the questions below.
| A | B | C | D | E | F | G | |
| Cloth (units) | 0 | 10 | 20 | 30 | 40 | 50 | 60 |
| Wheat (in tons) | 100 | 95 | 85 | 70 | 50 | 30 | 0 |
- If the economy is currently producing at position E, answer the questions below.
- What is the opportunity cost of producing 10 more units of cloth?
What is the opportunity cost of producing 45 more tons of wheat?
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Capital In The Twenty-First Century
Authors: Thomas Piketty, Arthur Goldhammer
1st Edition
067443000X, 9780674430006
