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  3. 1 use the following table representing an economys production possibilities...

Question: 1 use the following table representing an economys production possibilities...

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1. Use the following table representing an economys Production Possibilities of cameras and mobile phones produced per hour to answer this question Mobile phones 8 7 -t 10 20 30 Cameras (b)The economy moves from point A to point B on the PPF (i)What is the gain in cameras? Show your work (your calculations). (ii)What is the opportunity cost of this gain in cameras? Specifically what is the opportunity cost of each camera gained in this production range. Show your work (your calculations). (c) The economy moves from point B to point C on the PPF (@What is the gain in cameras? Show your work (your calculations) (iüijWhat is the opportunity cost of this gain in cameras? Specifically what is the opportunity cost of each (d) Is there a difference in your answers to question (b i) and (ci)? Use the principle of increasing marginal opportunity costs to fully explain WHY they are different. mera gained in this production range. Show your work (vour calculations)

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