On the production possibilities frontier shown, at which point or points is it efficient for… 1 answer below »
Task 1: Economic Foundations and Market ForcesConsider the Production Possibilities Frontier in the figure below and answer questions 1, 2 and 3.1. On the production possibilities frontier shown, at which point or points is it efficient forthis economy to produce? Explain why. (1 mark) –Word count 402. On the production possibilities frontier shown, the opportunity cost to the economy ofproducing 40 additional roller blades by moving from point E to point A is what? Explainwhy. (1 mark) –Word count 403. Consider a technological breakthrough in making bikes so that you can produce 25 bikeswhen all resources are devoted to this activity. Draw a new Production PossibilitiesFrontier and make sure you include the old Production Possibilities Frontier in the figure.Explain your answer. (2 marks) –Word count 60
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