What is the maximum amount of cotton to produce


Assume Nebraska and Virginia each have 100 acres of farmland. The following table gives hypothetical figures for yield per acre in the two states:
Nebraska Virginia
Wheat 9 5
Cotton 7 2

e) Suppose the two states decide that they want to produce 590 units of wheat together (not 590 units of wheat each). What is the maximum amount of cotton that they could produce?

f) Draw the graph of the PPF for each state, and then draw the graph for the PPF of the two states combined. On each graph, put the quantity of wheat on the vertical axis, and the quantity of cotton on the horizontal axis. Be sure to label your graphs carefully.

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: What is the maximum amount of cotton to produce
Reference No:- TGS038182

Expected delivery within 24 Hours