Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
James Paul James Paul
wrote...
Go to Answer
Posts: 120
Rep: 0 0
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 the economy is currently producing at point A. What is the opportunity cost to this economy of increasing the production of bananas by 100 tonnes?



▸ There is no opportunity cost.

▸ 60 tonnes of cotton

▸ 1500 tonnes of bananas

▸ 1440 tonnes of bananas

▸ 100 tonnes of cotton
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
Read 53 times
1 Reply
Replies
Answer verified by a subject expert
david200095367david200095367
wrote...
#1
Posts: 137
Rep: 1 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

James Paul Author
wrote...

A year ago
This calls for a celebration Person Raising Both Hands in Celebration
amandamraz
wrote...

Yesterday
Smart ... Thanks!
missnoname
wrote...

2 hours ago
Brilliant ツ
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1248 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 305
  
 295
  
 705
Your Opinion
How often do you eat-out per week?
Votes: 79
Previous poll results: Does a gender wage gap exist in America?