Explore BrainMass

Explore BrainMass

    opportunity costs

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Production Alternatives
    Type of production A B C D E
    Automobiles 0 2 4 6 8
    Forklifts 30 27 21 12 0

    A. Upon what specific assumption is this possibilities curve based? If the economy is at point C, what is the cost of one more automobile and forklift? Explain how the production possibilities curve reflects the law of increasing opportunity cost.

    See the attached file.

    © BrainMass Inc. brainmass.com October 9, 2019, 8:52 pm ad1c9bdddf


    Solution Summary

    The opportunity costs are assessed.