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Nikolas Nikolas
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A year ago

Figure 1-7 shows the production possibilities boundary for an economy that produces two goods-cotton and bananas.

Short description: A graph plots tonnes of bananas against tonnes of cotton. Long description: The horizontal axis representing tonnes of bananas (x) ranges from 0 to 400, in increments of 100. The vertical axis representing tonnes of cotton (y) ranges from 0 to 1500, in increments of 500. The graph shows a curve that passes through the following points: A (0, 1500), B (100, 1440), C (200, 1280), D (300, 920), E (360, 500), and F (400, 0).

FIGURE 1-7

Refer to Figure 1-7. A production possibilities boundary is shown for an economy that produces two goods-cotton and bananas, both measured in tonnes produced per year. Suppose this economy is currently producing 1280 tonnes of cotton and 200 tonnes of bananas. What is the opportunity cost of increasing the production of bananas by 100 tonnes?



▸ 920 tonnes of cotton

▸ 100 tonnes of cotton

▸ 360 tonnes of cotton

▸ 360 tonnes of bananas

▸ There is no opportunity cost.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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manuella14manuella14
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