Compute the co-ordinates for the new economy

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Reference no: EM131073047

In the table below are listed a series of points that define an economy's production possibility frontier for goods Y and X.

(a) Plot these points to scale, on graph paper, or with the help of a spreadsheet.

(b) Given the shape of this PPF is the economy made up of individuals who are similar or different in their production capabilities?

(c) What is the opportunity cost of producing 100 more Y at the combination (X = 5500,Y = 300). (d) Suppose next there is technological change so that at every output level of good Y the economy can produce 20 percent more X. Compute the co-ordinates for the new economy and plot the new PPF.

Reference no: EM131073047

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