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Economics - Financial Markets
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can anyone help me this question To produce one unit of commodity X requires only half a unit of labour (no capital is needed). Each unit of X needs storage space during the production process which is limited to up to 180 units of X. Commodity Y, on the other hand, requires a quarter of a unit of labour and half a unit of capital for the production of one unit. There are 100 units of labour and 100 units of capital. a) Draw the production possibility frontier. b) What will be the opportunity cost of Y when we produce 30 units of it? c) What will be the opportunity cost of X when we produce 8
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