Essay
The following graph shows the production possibilities for the economy of Esher: 
a) What is the total cost of producing 7 pops?
b) What is the total cost of producing 4 corns?
c) What is the cost of moving from point b to point c?
Suppose that Esher experiences a 50% increase in the productivity of producing Pops.
d) Draw in the new production possibilities curve labelled PP2.
e) If Esher wants to have 6 pops, how many corn can it now have?
Correct Answer:
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a) 3 corn
b) 4 pops
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Correct Answer:
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b) 4 pops
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