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Suppose you own an outdoor recreation company and you want to purchase all-terrain vehicles (ATVs) for your summer business and snowmobiles for your winter business. Your budget for new vehicles this year is $240 000. ATVs cost $8000 each and snowmobiles cost $12 000 each.
a. Make a PPC schedule showing all of the various combinations of the two vehicles that you could get.
b. Sketch a PPC for this schedule, please put ATVs on the vertical axis and snowmobiles on the horizontal.
c. What is the opportunity cost of one (the first) ATV?
d. What is the OC of the second ATV
e. What is the opportunity cost of one (the first) snowmobile?
f. What is the opportunity cost of the second snowmobile?
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