Question

Moving between two points on a PPF, a country gains 8 desktop computers and forgoes 5 laptop computers.The opportunity cost of 1 laptop computer is ___ desktops.

Answer 1

Moving between the two points on the PPF gives a country 8 desktop computers and gives up 5 laptop computers. The opportunity cost of a laptop is half that of a desktop.

An outward shift in the PPF indicates economic growth. An inward shift indicates a shrinking economy due to failure of resource allocation and optimal production capacity. A shrinking economy could be the result of reduced supplies or a lack of technology.

An outward shift in the PPF indicates economic growth. An inward shift indicates a shrinking economy due to failure of resource allocation and optimal production capacity. A shrinking economy could be the result of reduced supplies or a lack of technology.

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