During an economic downturn, consumers spend considerably less on goods and services. this results in layoffs that are classifie
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The completed table is:
Fishing Lures Duck decoys
40 0
32 40
24 30
16 20
8 10
0 50
<h3>What is the production possibilities schedule?</h3>The production possibilities schedule is a schedule that shows the two combination of goods or services that can be produced when a person's resources are fully utilized.
In order to determine the production possibilities schedule, the opportunity cost of producing 1 fishing lure have to be determined. The opportunity cost = 10 / 8 = 1.25. Thus, the opportunity costs between fishing lures and duck carves have to be 1.25
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