1.11 Production Possibilities Curve. Consider a nation that produces baseball mitts and soccer balls. The fol-- lowing table shows the possible combinations of the two products Baseball) 02465 Soccer balls milions) (302418100

a. Draw a production possibilities curve with mins on the horizontal axis and balls on the vertical axis Suppose the technology for producing mitts improves, meaning that fewer resources are needed for each mitt. In contrast, the technology for producing soccer balls does not change. Draw a new production possibilities curve.

e. The opportunity cost of the first two million mit million soccer balls and the opportunity cost of the last two million mitts is million soccer balls