Figure 3-2
Peru's Production Possibilities Frontier

-Refer to Figure 3-2.If the production possibilities frontier shown is for 40 hours of production,then how long does it take Peru to make one emerald?
A) 1/6 hour
B) 1/5 hour
C) 5 hours
D) 6 hours

Question

Figure 3-2
Peru's Production Possibilities Frontier
 
-Refer to Figure 3-2.If the production possibilities frontier shown is for 40 hours of production,then how long does it take Peru to make one emerald?
A) 1/6 hour 
B) 1/5 hour 
C) 5 hours 
D) 6 hours

Quizplus · Accepted Answer

The production possibilities frontier indicates the trade-offs between producing emeralds and other goods. If the entire 40 hours are used to produce emeralds, and the maximum number of emeralds produced is 8, then it takes 40/8 = 5 hours to produce one emerald.

Figure 3-2 Peru's Production Possibilities Frontier