# Microeconomics_Tutorial 1.docx - Tutorial 1 1 Given...

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Tutorial 1 1. Given production possibilities for country MAX: X 5 10 15 20 25 30 35 40 45 Y 99 96 91 84 75 64 51 36 19 Possibility a b c d e f g h i a) Draw country MAX’s PPF. b) On the same figure, plot a point for : i) Attainable and inefficient point. Label it as J. ii) Unattainable point. Label it as Z c) Calculate and explain country MAX’s OC if the production change from: i) Point A to I ii) Point B to F iii)Point E to A iv)Point G to D 2. Pinnacle Paper Products Inc. can produce books or rolls of paper towels. Here is its PPF for the resources and technology it has available: a. What is gained by choosing to produce at point B, instead of at point A?

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Unformatted text preview: b. What is the opportunity cost of choosing to produce at point B, instead of at point A? c. What is gained by choosing to produce at point C, instead of at point B? d. What is the opportunity cost of choosing to produce at point C, instead of at point B? 3. The figure above shows a nation's production possibilities frontier for apples and oranges. a) What combination of goods is represented by point A ? b) What combination of goods is represented by point B ? c) Which point represents an unattainable combination of goods?...
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