I need a graph of the production possibilities frontier for the following question:
American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons of grain a year, while a Japanese worker can produce 5 tons of grain a year. Assume that each country has 100 million workers.© BrainMass Inc. brainmass.com March 21, 2019, 12:31 pm ad1c9bdddf
I have attached two documents for you. The excel document contains the graph that was requested. The Word document attached contains background infor regarding Production Possibilities Frontiers that can act as a source of future reference. I hope this helps.
curve depicting all maximum output possibilities of two or more goods given a set of inputs (resources, labor, etc.). The PPF assumes that all inputs are used efficiently.
As indicated on the chart above, points A, B, and C represent the points at which production of Good A and Good B is most efficient. Point X demonstrates the point at which resources are not being used efficiently in the production of both goods, and point Y demonstrates an output that is not attainable with the given inputs
Scarcity is the basis of many economic concepts because it ...
This solution helps with a problem regarding production possibilities.