ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Suppose that Ned can produce either potato chips or computer chips. If he only produces potato chips he can produce 25 in a
day. If he only produces computer chips, he can produce 50 in a day. Drag the endpoints of the line to plot his production
possibilities frontier (PPF) on the graph.
Potato Chips
50
45
64
40
40
35
30
25
20
15
10
5
0
0
What is the opportunity cost of potato chip
production in terms of computer chips?
Ned's PPF
50
3/4
4/3
25
LQ
5
10
15 20 25 30
35 40
40
Computer Chips
45
50
2
○ 1/2
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Transcribed Image Text:Suppose that Ned can produce either potato chips or computer chips. If he only produces potato chips he can produce 25 in a day. If he only produces computer chips, he can produce 50 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. Potato Chips 50 45 64 40 40 35 30 25 20 15 10 5 0 0 What is the opportunity cost of potato chip production in terms of computer chips? Ned's PPF 50 3/4 4/3 25 LQ 5 10 15 20 25 30 35 40 40 Computer Chips 45 50 2 ○ 1/2
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