Draw a picture showing the limits of what you can buy

Reference no: EM133552607

Question: Suppose you have $300. each apple costs $2 and each banana costs $5. draw a picture showing the limits of what you can buy (apple on y axis). Can you afford to buy 5 apples and 10 bananas? show this point in your picture. Can you afford to buy 50 apples and 60 bananas? draw a more realistic "production possibility curve" for apples and bananas in a society if the cost of each apple/banan increases as we produce more of them?

Reference no: EM133552607

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