What is the cost of one more automobiles of one forklifts

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Reference no: EM13238334

Type of production A B C D E
Automobiles 0 2 4 6 8
Forklifts 30 27 21 12 0

To the above is a production possibilities table for consumer goods ( automobiles) and capital goods ( forklifts):

a) show this data graphically. upon what specific assumptions is this possibilities curved based?

B) if the economy is at point c, what is the cost of one more automobiles? of one more forklifts? which characteristics of the production curve reflects the law of increasing opportunity costs: its shape or its length?

c) if the economy characterized by by this production possibilities table and curve were producing 3 automobiles and 20 forklifts, what could you conclude about its use of its available resources?

d) is a production at a point outside the production possibilities curve currently possible? Could a future advance in technology allow production beyond the current production possibilities curve? Could international trade allow a country to consume beyond its current production possibilities curve?

Reference no: EM13238334

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