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Use Figure 1 below to answer the following questions. Which of the following points on the production possibilities curve depicted in Figure 1 are attainable
Use Figure 1 below to answer the following questions.
- Which of the following points on the production possibilities curve depicted in Figure 1 are attainable with the resources and technology currently available:A, B, C, D, E, U, and W?
- Which of the following points on the production possibilities curve depicted in Figure 1 are efficient production points: A, B, C, D, E, U, and W?
- What is the per unit opportunity cost to move from point C to point B?Indicate your answer as a ratio, the amount of capital lost per unit of consumption gained.(Show your work.)
- What is the opportunity cost to move from point B to point A?Indicate your answer as a ratio, the amount of capital lost per unit of consumption gained.(Show your work.)
- Compared your answer in c. with your answer in d.Has the opportunity cost Increased, decreased, or has stayed the same when moving point B to point A compared to point C to point B?
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