4. Opportunity cost and production possibilities Cho is a skilled toy maker who is able to produce both boats and puzzles. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. Hours Producing Produced Choice (Boats) (Puzzles) (Вoats) (Puzzles) A 8 4 0. B 6 3 10 4 16 D 6 1 19 8 20 On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF). 30 26 Initial PPF
4. Opportunity cost and production possibilities Cho is a skilled toy maker who is able to produce both boats and puzzles. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. Hours Producing Produced Choice (Boats) (Puzzles) (Вoats) (Puzzles) A 8 4 0. B 6 3 10 4 16 D 6 1 19 8 20 On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF). 30 26 Initial PPF
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![4. Opportunity cost and production possibilities
Cho is a skilled toy maker who is able to produce both boats and puzzles. She has 8 hours a day to produce toys. The following table shows the daily
output resulting from various possible combinations of her time.
Hours Producing
Produced
Choice
(Boats)
(Puzzles)
(Вoats)
(Puzzles)
8
6
2
3
10
4
4.
16
D
2
1
19
E
8
20
On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF).
(?
30
25
Initial PPF](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F353d9390-9d86-4b30-b14b-c5063d2ffce9%2F75421ebd-1771-4edb-b3f9-7c57dbe84d39%2Frfuxr09_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4. Opportunity cost and production possibilities
Cho is a skilled toy maker who is able to produce both boats and puzzles. She has 8 hours a day to produce toys. The following table shows the daily
output resulting from various possible combinations of her time.
Hours Producing
Produced
Choice
(Boats)
(Puzzles)
(Вoats)
(Puzzles)
8
6
2
3
10
4
4.
16
D
2
1
19
E
8
20
On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF).
(?
30
25
Initial PPF
![On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF).
30
25
Initial PPE
20
New PPF
15
10
1
4.
5.
6.
8
BOATS
Suppose Cho is currently using combination D, producing one boat per day. Her opportunity cost of producing a second boat per day is
V per day.
lyp
PUZZLES](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F353d9390-9d86-4b30-b14b-c5063d2ffce9%2F75421ebd-1771-4edb-b3f9-7c57dbe84d39%2F3367kvr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF).
30
25
Initial PPE
20
New PPF
15
10
1
4.
5.
6.
8
BOATS
Suppose Cho is currently using combination D, producing one boat per day. Her opportunity cost of producing a second boat per day is
V per day.
lyp
PUZZLES
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