Directions: Fill in the blanks
then press the submit button. Where a numerical answer is called for you only need to
enter the number.
1. In the country of Rosencrantz only two goods
are produced: ham and eggs. The production possibilities schedule is given below:
A. The opportunity cost of increasing ham
production in this country from 2 units to 3 is
B. The Opportunity cost of increasing egg
production from 11 to 12 units is approximately
hams ? You can enter your answer as a fraction.
C. True or False: Given its existing resources,
institutions, and technology, Rosencrantz is capable of producing 2.5 units of ham and
units of eggs.
D. A new type of chicken feed is invented which
increases egg production by 50%. The new feed costs exactly the same as the old. How many
eggs can be produced along with 2 hams? eggs
E. How many eggs can be produced along with three
F. What is the opportunity cost of producing
three hams instead of two hams with this new technology? eggs
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