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An economy can produce good 1 using labor and capital and good 2 using labor and land. The total supply of labor is 100 units. Given the supply of capital, the outputs of the two goods depend on labor input as follows:
Labor Input to Good 1
Output of Good 1
Labor Input to Good 2
0
10
25.1
20
38.1
30
48.6
40
57.7
50
66
60
73.6
70
80.7
80
87.4
90
93.9
a. Graph the production functions for good 1 and good 2.
b. Graph the production possibility frontier. Why is it curved?
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