You are given the following production possibilities table and productions possibility frontier (Figure 2.1), Figure 2.1 Commodity
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Question:
- You are given the following production possibilities table and productions possibility frontier (Figure 2.1), Figure 2.1
- Commodity A B C D E
- Pizza 0 120 240 360 480
- Burgers 975 900 700 400 0
Answer the following questions:
- What is the opportunity cost of making 360 pizzas?
- What is the opportunity cost of making 900 burgers?
- What is the marginal opportunity cost of increasing pizza production from 120 to 240 pizzas?
- What is the marginal opportunity cost of increasing burger production from 400 to 700 burgers?
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