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The table below contains production possibilities data for capital goods and consumer goods in the economy of New Harmony. IIIIIIIIIIIIIIIIIIIIIIIIIIEIIIIIIEIIIIIIEIII Im ____I_ a. Draw the
The table below contains production possibilities data for capital goods and consumer goods in the economy of New Harmony. IIIIIIIIIIIIIIIIIIIIIIIIIIEIIIIIIEIIIIIIEIII Im\" __\"__I_ a. Draw the production possibilities curve {PPC} for New Harmony. Plot each point in the graph below using the tool PP'l for part {a} and PP2 for part [g]. Plot 5 points in the graph below for part [a] and another 5 points for part {g}. Once all points have been plotted, click on the line [not individual points} and a tool icon will pop up. You can use this to enter exact coordinates for your points as needed. [5.1.1] Production Possibilities Curve For New Harmony 48 TOUR :14 40 36 32 28 24 20 1 6 1 2 PP'I PPZ ConSumor goods 8 16 24 32 Capital goods b. What is the total cost of the rst 14 capital goods produced? The total cost is |:| unit{s} of consumer goods. c. Assuming the economy is producing combination B, what is the approximate per-unit cost of an additional capital good? The per-unit cost of an additional capital good is unit(s) of consumer goods. d. Assuming the economy is producing combination C, what is the approximate per-unit cost of an additional capital good? Round your answer to 1 decimal place. The per-unit cost of an additional capital good is unit(s) of consumer goods. e. What law is illustrated in your answers to parts (c) and (d)? The law of (Click to select) |is illustrated by parts (c) and (d). f. Fill in the table below assuming that, 10 years later, the output potential of capital goods has increased by 50%, while the output potential for consumer goods has risen by 6 units for each combination A through E. A2 B2 C2 D2 E2 Capital Goods Consumer goods g. Show the new PPC after the output potential of capital and consumer goods has risen. Use the tool PP2 in the graph above to draw the new PPC after the output potential has risen. h. As a result of the economic growth, can New Harmony now produce 24 capital goods and 26 consumer goods? New Harmony |(Click to select) | able to produce this combination of goods. i. What are the implications if New Harmony did produce the combination in (h)
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