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Back to Assignment Attempts: 0 Keep the Highest: 0/5 5. Opportunity cost and production possibilities Becky is a skilled toy maker who is able to produce both cars and drums. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. Hours Producing Produced Choice (Cars) (Drums) (Cars) (Drums) 2 13 16 17 4 On the following graph, use the blue points (circle symbol) to plot Beckys initial production possibilities frontier (PPF)

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Suppose Becky is currently using combination D, producing one car per day. Her opportunity cost of producing a second car per day is per day. Now, suppose Becky is currently using combination C, producing two cars per day. Her opportunity cost of producing a third car per day is per day From the previous analysis, you can determine that as Becky increases her production of cars, her opportunity cost of producing one more car Suppose Becky buys a new tool that enables her to produce twice as many cars per hour as before, but it doesnt affect her ability to produce drums Use the green points (triangle symbol) to plot her new PPF on the previous graph. Because she can now make more cars per hour, Beckys opportunity cost of producing drums is it was previously Grade It Now Save & Continue Continue without saving

Please solve PPF graph plots and bottom picture questions

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The Production Possibility Frontier shows the various combinations of two goods that can be produced using the given resources .

30 25 DRUKS 20 15 mi hal PPF Now 5 PPF CARS cine 2nd Casr oue.

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