Question

In the table below are listed a series of points that define an economys production possibility frontier for goods Y and X. Y 1000 900 800 700 600 500 400 300 200 100 0 X 0 400 1600 3600 6400 10000 14400 19600 25600 32400 40000 Plot these pairs of points to scale, on graph paper. (b) Given the shape of this PPF is the economy made up of individuals who are similar or different in their production capabilities? (c) What is the opportunity cost of producing 100 more Y at the combination (X = 3600, Y = 700). (d) Suppose next there is technological change so that at every output level of good Y the economy can produce 10 percent more X. Enter a new row in the table containing the new values, and plot the new PPF.

          In the table below are listed a series of points that define an economys production possibility frontier for goods Y and X. 
Y
1000
900
800
700
600
500
400
300
200
100
0

X
0
400
1600
3600
6400
10000
14400
19600
25600
32400
40000


Plot these pairs of points to scale, on graph paper. (b) Given the shape of this PPF is the economy made up of individuals who are similar or different in their production capabilities? (c) What is the opportunity cost of producing 100 more Y at the combination (X = 3600, Y = 700). (d) Suppose next there is technological change so that at every output level of good Y the economy can produce 10 percent more X. Enter a new row in the table containing the new values, and plot the new PPF.

Added by Cyrel Mitch T.

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