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Suppose that an economy produces only 2 goods: baseball bats and 2 x4's. also, the only input
needed to make these goods is trees. basically. i tree makes 10 baseball
bats, and i tree makes 20 2 x
4's. if there are 5 trees in the economy, draw the production possibilities frontier for this economy
hint: put bats on one axis and 2 x 4s on the other axis.
4. plot any two points on the curve and label them a and b. then, describe the opportunity cost
(what did you have to give up) by moving from point a to point b. (estimating is ok)

Respuesta :

Production possibilities.

The production possibility curve displays all feasible combinations of the production of two commodities that can be produced in an economy with the resources and technologies that are to be fully used.

What do you mean by "producing possibility"?

  • The production possibility curve displays every possible combination of two commodities that may be produced in an economy given the available resources and technology, both of which must be used to their fullest extent.
  • A production-possibility frontier (PPF), production possibility curve (PPC), production possibility boundary (PPB), or transformation frontier is a graphical representation of all the possible options of output for two products that can be produced using all factors of production, where the given resources are fully utilised. It shows different combinations of the amounts of two goods that can be produced within the given resources and technology.

To learn more about Production possibilities., refer to the following link:

https://brainly.com/question/25071524

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