What is opportunity cost of farm increasing beef production

Assignment Help Microeconomics

Reference no: EM13174209

Can someone please help me do a PPF graph as well how to get the following calculations:

Corn Beef

(bushels per year) (bushels per year)

1000 0

800 900

600 1200

400 1400

200 1450

0 1500

Following questions:

A. Draw a graph of the farm's PPF

B. Can the Farm produce 500 bushles of corn and 500 pounds of beef per year?

C. Can the farm produce 800 bushels of corn and 1200 pounds of beef a year?

D. What is the opportunity cost of the farm increasing beef production from 900 pounds to 1200 pounds per year?

C. If the farm produces 400 bushels of corn and 1400 pounds of eef a year, is the farm using its resources efficiently? Explain

Reference no: EM13174209

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