Help Please, A hypothetical nation produces only 2 goods (Goods A & B) - Goods are dissimilar products (bicycles and
Posted: Sun Jul 03, 2022 6:57 am
Help Please,
A hypothetical nation produces only 2 goods (GoodsA & B)
- Goods are dissimilar products (bicyclesand apples)
- If nation produces only Good A, then it produces atotal of 6 units
- If nation produces only Good B, then it produces atotal of 5 units
- Consider a production mix of A=7 units, and B= 8units for this situation, labeled Pt.U
Instructions:
Using the information above,
- Construct/draw a Production Possibilites Curve usingthe above information, labeling all components of PPCproperly.
- Explain/analyze the production mix labeled Pt. U ofthis nation in a brief one or two sentences.
A hypothetical nation produces only 2 goods (GoodsA & B)
- Goods are dissimilar products (bicyclesand apples)
- If nation produces only Good A, then it produces atotal of 6 units
- If nation produces only Good B, then it produces atotal of 5 units
- Consider a production mix of A=7 units, and B= 8units for this situation, labeled Pt.U
Instructions:
Using the information above,
- Construct/draw a Production Possibilites Curve usingthe above information, labeling all components of PPCproperly.
- Explain/analyze the production mix labeled Pt. U ofthis nation in a brief one or two sentences.