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7.Consider the following production possibilities table:


Option Y X
A 0 100
B 80 80
C 120 50
D 140 10

a)Provide a measure of the approximate marginal opportunity cost of an additional unit of X for each interval. Is the law of increasing cost satisfied? Explain. (6 points)
applies when shifting from capital goods to consumer goods.

b) Is the production of 100 units of X and 85 units of Y feasible? Why or why not? If so, is it efficient? (2 points)

C)Is the production of 80 units of X and 75 units of Y feasible? Why or why not? If so, is it efficient? (2 points)

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9585703

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