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TUTORIAL 2 - PPC The following table shows the production possibility for Millennial Country which produces two goods paddy and textile. Combination Paddy (ka) Textile
TUTORIAL 2 - PPC The following table shows the production possibility for Millennial Country which produces two goods paddy and textile. Combination Paddy (ka) Textile (meter) A 0 1000 400 900 C 800 700 D 1200 400 1600 aj Define production possibility curve (PPC). Calculate the opportunity cost of producing paddy. paddy b) Sketch the production possibility curve for paddy and textile. c) Calculate the opportunity cost of: 1) producing 400 kg of paddy. producing 900 meters of textile. ll) increasing production of paddy from 800 kg to 1600 kg. d) If this economy intends to produce 1000 kg of paddy and 1000 meters of textile, suggest two (2) ways in which this can possibly achieved
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