Answer to Question #30454 in Microeconomics for Napapat

Question

1. The nation of Rougarou is able to produce turnips and potatoes in combinations represented by the data in the following table. Each number represents thousands of bushels.
A B C D E
Turnips 100 90 70 40 0
Potatoes 0 10 20 30 40
Plot this data on a production possibilities graph and explain why the data shows that Rougarou experiences increasing opportunity costs.
2. Explain how is of the following situations would affect a nation’s production possibilities curve.
a. A technological innovation allows the nation to more efficiently convert solar energy into electricity.
b. A prolonged recession increases the number of unemployed workers in the nation.
c. A category 5 hurricane destroys over 40 percent of the nation’s productive capacity.
d. The quality of education in the nation’s colleges and universities improves greatly.
e. The nation passes a law requiring all employees to give their employees 16 weeks of paid vacation each year. Prior to this law, employers were not legally required to give employees any paid vacation time.

Answer 1

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