Refer to the following production possibilities table for consumer goods (automobiles) and capital goods (forklifts): A

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Refer To The Following Production Possibilities Table For Consumer Goods Automobiles And Capital Goods Forklifts A 1 (115.97 KiB) Viewed 48 times

Refer to the following production possibilities table for consumer goods (automobiles) and capital goods (forklifts): A E Type of Production Automobiles Forklifts Production Alternatives B с D 2 4 6 27 21 12 0 8 30 0 a. Show these data graphically. Instructions: Use the tool provided 'PPC' to draw a PPC curve (plot 5 points total). 10 Tools 8 PPC Automobiles 4. 2 O ♡ 10 20 30 40 50 Forklifts
Upon what specific assumptions is this production possibilities curve based? (Click to select) b. If the economy is at point C, what is the (opportunity) cost of 2 more automobiles? What is the opportunity) cost of 6 more forklifts? Which characteristic of the production possibilities curve reflects the law of increasing opportunity costs: its shape or its length? (Click to select) c. If the economy characterized by this production possibilities table and curve is producing 3 automobiles and 20 forklifts, what could you conclude about its use of available resources? The economy is (Click to select) v its available resources. d. Is production at a point outside the production possibilities curve currently possible? (Click to select) Could a future advance in technology allow production beyond the current production possibilities curve? (Click to select) Could international trade allow a country to consume beyond its current production possibilities curve? (Click to select)