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graph of the production possibilities frontier

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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.

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Solution Preview

Hi there,

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

Source: http://www.investopedia.com/terms/p/productionpossibilityfrontier.asp

Production Possibilities

Scarcity is the basis of many economic concepts because it ...

Solution Summary

This solution helps with a problem regarding production possibilities.

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