5. Opportunity cost and production possibilities Cho is a skilled toy maker who is able to produce both trucks and balls

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5. Opportunity cost and production possibilities Cho is a skilled toy maker who is able to produce both trucks and balls. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. Choice BALLS A D E 30 25 20 15 10 CA 5 t On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF). 0 Hours Producing (Trucks) 8 0 6 4 2 0 1 (Balls) 0 2 2 4 6 8 3 Produced (Trucks) 4 4 TRUCKS 3 2 1 0 (Balls) 0 10. 16 18 19 5 7 Initial PPF A New PPF

Suppose Cho is currently using combination D, producing one truck per day. Her opportunity cost of producing a second truck per day is per day. Now, suppose Cho is currently using combination C, producing two trucks per day. Her opportunity cost of producing a third truck per day is per day. From the previous analysis, you can determine that as Cho increases her production of trucks, her opportunity cost of producing one more truck Suppose Cho buys a new tool that enables her to produce twice as many trucks per hour as before, but it doesn't affect her ability to produce balls. Use the green points (triangle symbol) to plot her new PPF on the previous graph. Because she can now make more trucks per hour, Cho's opportunity cost of producing balls is it was previously,

Suppose Cho is currently using combination D, producing one truck per day. Her opportunity cost of producing a second truck per day is per day. 1 ball 2 balls 16 balls, 18 balls se Cho is currently using combination C, producing two trucks per day. Her opportunity cost of producing a third truck per day is per day. revious analysis, you can determine that as Cho increases her production of trucks, her opportunity cost of producing one more truck Suppose Cho buys a new tool that enables her to produce twice as many trucks per hour as before, but it doesn't affect her ability to produce balls. Use the green points (triangle symbol) to plot her new PPF on the previous graph, Because she can now make more trucks per hour, Cho's opportunity cost of producing balls is it was previously.

Suppose Cho is currently using combination D, producing one truck per day. Her opportunity cost of producing a second truck per day is per day. Now, suppose Cho is currently using combination C, producing two trucks per day. Her opportunity cost of producing a third truck per day is per day. 1 ball 6 balls 10 balls revious analysis, you can determine that as Cho increases her production of trucks, her opportunity cost of producing one more truck 16 balls po buys a new tool that enables her to produce twice as many trucks per hour as before, but it doesn't affect her ability to produce balls. Jen points (triangle symbol) to plot her new PPF on the previous graph. Because she can now make more trucks per hour, Cho's opportunity cost of producing balls is it was previously.

Suppose Cho is currently using combination D, producing one truck per day. Her opportunity cost of producing a second truck per day is per day. Now, suppose Cho is currently using combination C, producing two trucks per day. Her opportunity cost of producing a third truck per day is per day. From the previous analysis, you can determine that as Cho increases her production of trucks, her opportunity cost of producing one more truck decreases increases remains constant new tool that enables her to produce twice as many trucks per hour as before, but it doesn't affect her ability to produce balls. (triangle symbol) to plot her new PPF on the previous graph. carnow make more trucks per hour, Cho's opportunity cost of producing balls is it was previously.

LHD IS Cur Intly using combination D, producing one truck per day. Her opportunity cost of producing a second truck per day is per day. Now, suppose Cho is currently using combination C, producing two trucks per day. Her opportunity cost of producing a third truck per day is per day. From the previous analysis, you can determine that as Cho increases her production of trucks, her opportunity cost of producing one more truck higher than Suppose Cho buys a new tool that enables her to produce twice as many trucks per hour as be lower than sn't affect her ability to produce balls. Use the green points (triangle symbol) to plot her new PPF on the previous graph. Because she can now make more trucks per hour, Cho's opportunity cost of producing balls is the same as It was previously.