Illustrate what does such a combination mean to this economy

Assignment Help Business Economics

Reference no: EM1355841

Consider the following table:
Combination Consumption Goods Production Goods
A 0 100
B 10 97
C 20 90
D 30 75
E 40 55
F 50 30
G 60 0

Suppose this economy were currently producing 40 units of production goods and 20 units of consumption goods.

a) Is such a combination attainable to this economy? Why? Why not? Explain. (2)

b) Suppose you were to plot the data from the above table into a graph. Graphically, how would you explain the combination of 40 units of production goods and 20 units of consumption goods? (2) (you need to visualize a PPC and where such a combination would fall.)

c) What does such a combination mean to this economy? Explain in detail being sure to discuss such a combination relative to resource utilization and efficiency.

Reference no: EM1355841

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