Answer to Question #232976 in Microeconomics for Lister

Question

the syejumba economy is a very simple economy producing vigayo and gallons of maize. The table below gives production points of the two commodities in the economy

Answer 1

The production possibility frontier is slanted downwards.

The slope rises as we progress along the production potential frontier. The growing slope indicates that when we raise the production of one item, we must sacrifice the production of another good at a greater pace, implying that opportunity costs are increasing.

The boundary of production possibility tends to be concave toward the origin.

The slope rises as we progress along the production potential frontier. The growing slope indicates that when we raise the production of one item, we must sacrifice the production of another good at a greater pace, implying that opportunity costs are increasing.