Economics Homework Help
2A. Suppose that workers in a country can produce either butters or tomatoes, and that all inputs are
2A. Suppose that workers in a country can produce either butters or tomatoes, and that all inputs are
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equally well-suited to the production of both goods. If all workers produce butter, 40 million butter can be produced. If all workers produce tomatoes, 20 million tomatoes can be produced.
What is opportunity cost of producing a tomato?
What is opportunity cost of producing butter?
2B. Suppose that there is an increase in resources that shifts the horizontal intercept to 40 million tomatoes.
What is the new opportunity cost of producing tomato?
