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Economics > QUESTIONS & ANSWERS > 4. Opportunity Cost and Production Possibilities WITH CORRECT ANSWERS (All)

4. Opportunity Cost and Production Possibilities WITH CORRECT ANSWERS

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MindTap Cengage Learning http://ng.cengage.com/static/nb/ui/index.html?nbId=572733&nbNodeId=207558044&deploymentId=940328875881446814456101&eISBN=978128585… 1/4 4. Opportunity cost and producti ... on possibilities Paolo is a skilled toy maker who is able to produce both boats and puzzles. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Choice Hours Producing Produced (Boats) (Puzzles) (Boats) (Puzzles) A 8 0 4 0 B 6 2 3 8 C 4 4 2 13 D 2 6 1 15 E 0 8 0 16 On the following graph, use the blue points (circle symbol) to plot Paolo's initial production possibilities frontier (PPF). [Show More]

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