Table 3-3 Production Opportunities Refer to Table 3-3. We could use the informat
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Question
Table 3-3
Production Opportunities
Refer to Table 3-3. We could use the information in the table to draw a production possibilities frontier for England and a second production possibilities frontier for France. If we were to do this, measuring cheese along the horizontal axis, then
Question 4 options:
the slope of England’s production possibilities frontier would be -4 and the slope of France’s production possibilities frontier would be -0.25.
the slope of England’s production possibilities frontier would be -4 and the slope of France’s production possibilities frontier would be -2.
the slope of England’s production possibilities frontier would be -0.5 and the slope of France’s production possibilities frontier would be -4.
the slope of England’s production possibilities frontier would be -0.5 and the slope of France’s production possibilities frontier would be -2.
the slope of England’s production possibilities frontier would be -0.25 and the slope of France’s production possibilities frontier would be -4.
Hours Needed to Make 1 Unit of Cheese Wine England 2 4 France 4 1Explanation / Answer
Ans) the correct option is the slope of England’s production possibilities frontier would be -0.5 and the slope of France’s production possibilities frontier would be -4.
Slope of PPF is the opportunity cost.
Opportunity cost of cheese in England = 2/4 = 0.5
Opportunity cost of cheese in France = 4/1 = 4
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