Wine (thousands of bottles per year) B C 15 12 D 9 3 E 0 12 15
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Question:
Wine (thousands of bottles per year) B C 15 12 D 9 3 E 0 12 15 Rice (tons per year) The above figure shows the production possibility frontier for a country. Suppose the country is producing at point E. What would be the opportunity cost to increase the production of wine to 9 thousand bottles? Nothing, it is a free lunch 9 thousand bottles of wine 12 tons of rice 3 tons of rice 15 thousand bottles of wine