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What is the opportunity cost of producing

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The Boswell Fruit Farm produces only oranges and papaya. Table 1 below shows the maximum possible output combinations of the two fruits using all resources and currently available technology. Answer the questions below and show calculations where appropriate.

Table 1

Boswell Fruit Farm

Possible Output Combinations

Oranges

Papayas

(thousands of kilos)

(thousands of kilos)

A

140

0

B

120

20

C

100

38

D

80

52

E

60

64

F

40

74

G

20

80

H

0

82
  1. Suppose the Fruit Farm is currently producing at point F. What is the opportunity cost of producing an additional 20,000 kilos of oranges?
  2. Suppose the Fruit Farm is plagued by a maggot infestation which destroys orange trees but not papayas. Explain with a graph what happens to the PPF.
  3. Which of the possible output combinations represent the lowest opportunity cost for one kilo of papayas? Show your calculation to support your answer.

Reference no: EM133259990

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