4. Opportunity cost and production possibilities Cho is a skilled toy maker who is able to produce both boats and puzzles. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. Hours Producing Produced Choice (Boats) (Puzzles) (Вoats) (Puzzles) A 8 4 0. B 6 3 10 4 16 D 6 1 19 8 20 On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF). 30 26 Initial PPF

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4. Opportunity cost and production possibilities
Cho is a skilled toy maker who is able to produce both boats and puzzles. She has 8 hours a day to produce toys. The following table shows the daily
output resulting from various possible combinations of her time.
Hours Producing
Produced
Choice
(Boats)
(Puzzles)
(Вoats)
(Puzzles)
8
6
2
3
10
4
4.
16
D
2
1
19
E
8
20
On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF).
(?
30
25
Initial PPF
Transcribed Image Text:4. Opportunity cost and production possibilities Cho is a skilled toy maker who is able to produce both boats and puzzles. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. Hours Producing Produced Choice (Boats) (Puzzles) (Вoats) (Puzzles) 8 6 2 3 10 4 4. 16 D 2 1 19 E 8 20 On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF). (? 30 25 Initial PPF
On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF).
30
25
Initial PPE
20
New PPF
15
10
1
4.
5.
6.
8
BOATS
Suppose Cho is currently using combination D, producing one boat per day. Her opportunity cost of producing a second boat per day is
V per day.
lyp
PUZZLES
Transcribed Image Text:On the following graph, use the blue points (circle symbol) to plot Cho's initial production possibilities frontier (PPF). 30 25 Initial PPE 20 New PPF 15 10 1 4. 5. 6. 8 BOATS Suppose Cho is currently using combination D, producing one boat per day. Her opportunity cost of producing a second boat per day is V per day. lyp PUZZLES
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