The figure at right shows a production possibilities curve (PPC) for Joe. He can

Question

The figure at right shows a production possibilities curve (PPC) for Joe. He can spend his time making pizzas or Joes PPC chocolate cakes. For Joe, which production points are attainable? (Check al that apply) A. Point A B. Point B. C. Point C. D. Point D E. Point E For Joe, which production points are efficient? (Check all that apply) A. Point A B. Point B C. Point C D. Point D E, Point E. 35 40 Cakes produced per day Joe decides to go to baking school and learns to make chocolate cakes faster 1.) Using he line draing tool, draw a new PPC where point C is now attainable and efficient. Label your line PPC2 Carefuly folow the instructions above and only draw the required abject

Explanation / Answer

Answer:- (a) points E and D are attainable, as these points are below PPC and therefore, these are pareto improvment points.

Answer:-(b) Points A and B are efficients points as these are on ppc. If we move from one point to another point then we need to sacrifice one commodity to increase the production of another one.

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