Assume that the people of Phobos and Deimos (the moons of Mars) use equal resources to produce consumer and capital goods, as illustrated in the table below showing maximum possible production figures. Country Capital Goods Consumer Goods Phobos 20 units 120 units Deimos 60 units 120 units Draw a fully labeled production possibility curve for Phobos. Place capital goods on the vertical axis and consumer goods on the horizontal axis. Assume constant opportunity cost.

Assume that the people of Phobos and Deimos (the moons of Mars) use equal resources to produce consumer and capital goods, as illustrated in the table below showing maximum possible production figures. Country Capital Goods Consumer Goods Phobos 20 units 120 units Deimos 60 units 120 units Draw a fully labeled production possibility curve for Phobos. Place capital goods on the vertical axis and consumer goods on the horizontal axis. Assume constant opportunity cost.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 11SQP

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Country	Capital Goods	Consumer Goods
Phobos	20 units	120 units
Deimos	60 units	120 units

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