the production possibilities curve below sho the hypothetical relationship betwe
ID: 1248315 • Letter: T
Question
the production possibilities curve below sho the hypothetical relationship between the production of food and clothing in an economy.combiniation food clothing
A 0 4
b 7 3
c 13 2
d 18 1
e 22 0
a) what is the marginal opportunity cost of producing the second unit of clothing?
b) what is the total opportunity cost of producing the second uit of closthing?
c) what is the marginal opportunity cost of producing the third unit of clothing?
e) what is the marginal opportunity cost of producint the thire unit of clothing?
Explanation / Answer
(a) 5 units of food (18 – 13 = 5) (b) 9 units of food (22 – 13 = 9) (c) 6 units of food (13 – 7 = 6) (d) 15 units of food (22 – 7 = 15)
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