Illustrate what is formula for opportunity cost

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Reference no: EM1367684

Q. Assume an economy has a production possibilities frontier characterized by equation X 2 + 4Y 2 = 100

(a) Illustrate what is most X that can be produced? most Y?

(b) Graph frontier (you will have to and at least three points on frontier to do this).

(c) Illustrate what is formula for opportunity cost of X in terms of Y in this economy?

Reference no: EM1367684

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