Question
You are the Economic Minister of Econoland. You will be making a formal presentation about your Economic ideas concerning the Production Possibilities Frontier (PPF) of
You are the Economic Minister of Econoland. You will be making a formal presentation about your Economic ideas concerning the Production Possibilities Frontier (PPF) of Econoland during the years 1989-2019 to the Prime Minister. Econoland produces two goods - shoes (measured in millions of pairs) and flat screen computer monitors (measured in thousands of units). Econoland uses the British Pound as its currency. The PPF you will be using is the fourth graph in your presentation; shoes will be located on the Y axis in your graph. The title of your formal presentation in "Measuring Econoland's Production."
The PPF data is below:
Shoes: 0 15 30 45 60 75
Screens: 125 115 100 80 50 10
A-Clearly and accurately construct a line graph using Excel based on all the information above. (40 pts)
B- Calculate and interpret the slope of the line you have graphed. Pick any two points. Assume the line between your two points is straight for part b of this assignment. Show all work.
C-. Referring only to this graph, how does this PPF exhibit opportunity cost and increasing opportunity? Be specific.
Graphs for this assignment must be properly constructed and created using Excel. Number each step of the assignment.
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