Problem
Based on the following information for the state of Montana,
a. Draw the Production Possibilities Curve.
b. Determine the opportunity costs for a move from A to B; B to C; and C to D.
|
CHOICE
|
OIL / barrels
|
WHEAT / bushels
|
|
A
|
15000
|
0
|
|
B
|
12000
|
10000
|
|
C
|
7500
|
20000
|
|
D
|
0
|
25000
|
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.