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Production Possibilities Frontiers

Production Possibilities Frontiers. Pull out a blank sheet of paper and put your notes and book away Answer the following questions; Describe opportunity cost in your own words

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Production Possibilities Frontiers

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  1. Production Possibilities Frontiers

  2. Pull out a blank sheet of paper and put your notes and book away Answer the following questions; Describe opportunity cost in your own words Farmer Russ can grow 300 bushels of wheat or keep 400 cows. What is Farmer Russ’s opportunity cost of growing 600 bushels of wheat?

  3. Production Possibilities Frontier - A graph that shows many different ways to use an economy’s resources

  4. In this model what is the opportunity cost of producing 3 robots?

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