Draw a production possibilty curve


Idustry-land was so named because it is highly industrialized. It is a world leader in the production of manufactured goods. If industry-land put all its productive efforts into manufactured goods, it could produce 1,000 units per year. To meet the needs of its own citizens at their current level of consumption, industry-land needs 200 units each of raw materials, agriculture products, and manufactured goods. the total opportunity cost of the 200 units of agriculture products and 200 units of raw materials is 80% of the manufactured goods, or 800 units. Draw a production possibilty curve?

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Macroeconomics: Draw a production possibilty curve
Reference No:- TGS069600

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