Question
Utopia produces only two products: cheese and wine. The production levels are shown in the table below. Cheese Wine % inputs output % inputs
Utopia produces only two products: cheese and wine. The production levels are shown in the table below. Cheese Wine % inputs output % inputs output 10 0 0 10 20 40 20 40 40 67 40 70 60 87 60 95 80 100 80 105 110 100 107 100 a. From this data, complete Utopia's production possibilities table below. D Possibility A Cheese 0 Wine b. Utopia * produce 87 cheese and 95 wine. c. If Utopia is at D, the total cost of 13 more cheese is wine. d. If Utopia is at D, the total cost of 25 more wine is cheese.
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Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
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978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123
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