Question

Harrison plans to spend a total of six hours to study for his exams in Economics and Geography. The following table shows his expected mark on each exam based on the number of hours spent studying each course. For example, if he spends all six hours studying Geography, he expects to get 84 marks in his Geography exam. Hours Spent Studying Geography 0 Hours Spent Studying Economics 0 Mark in Economics 0 20 35 47 57 63 Mark in Geography 25 45 60 70 78 84 6 a) What are the seven specific production combinations that lie on Harrison's production possibilities frontier b) What is Harrison's opportunity cost of getting 57 marks in Economics? Explain or show how you arrived at c) Is Harrison's PPF concave to the origin? Prove your answer WITHOUT drawing Harrison's PPF. 2 marks. PPF)? Explain clearly how you determined these production combinations. 2 marks. your answer. 1 mark.

Please explain it briefly, im having trouble to understand the question. Thank you.

Answer 1

Harrison has total 6 hours to study both Economics & Geography. He has to divide the time between these two subjects. If he spends 0 hours on geography, he spends 6 hours on economics. Therefore He gets 0 marks in geography & 66 marks in Economics. Similarly if he spends 3 hours on geography & 3 hours on Economics, he gets 60 & 77 marks respectively. The combination in the last two columns represent points that lie on Harrisons PPF. Opportunity cost of getting 57 marks in Economic = change in marks in geography/change in marks in economics = 45 - 0/66 - 57 = 5 marks in geography. \r\n PPF is concave to the origin if opportunity cost of increasing marks in geography increases. Opportunity of increasing marks 0 to 25 in geography = 66 - 63/25 - 0 = 0.12 marks in economics opportunity of increasing marks 25 to 45 in geography = 63 - 57/45 - 25 = 0.3 therefore opportunity cost in