What is opportunity cost for first units of public education

Reference no: EM133516769

Problem: Economy

The following is a Production Possibilities Schedule for Prisons and Public Education

Alternative	Prisons	Public Education
A	160	0
B	120	20
C	80	40
D	40	60
E	0	80

I. Graph the data above (Prison Y axis, Education X axis)

II. What is the opportunity cost for the first 20 units (from 0-20) of Public Education? And of the last 20 (from 60-80)?

III. Add a new point to the schedule, Point F (40 units of Education, 60 units of Prison)? What does Point F represent? Explain.

IV. Add a new point to the schedule, Point G (100 units of Education, 80 units of Prison)? What does Point G represent? Explain.

V. Can the Economy Product Point G in the future? Why or Why not?

Reference no: EM133516769

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