Problem
Going back to the simple PPF plotted where each of 100 workers can produce either four cakes or three shirts, suppose a recession reduces demand for the outputs to 220 cakes and 129 shirts.
(a) Plot this combination of outputs in the diagram that also shows the PPF.
(b) How many workers are needed to produce this output of cakes and shirts?
(c) What percentage of the 100 worker labour force is unemployed?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.