a. If Brazil increases ethanol production from 40 barrels per day to 54 barrels a day, what

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a. If Brazil increases ethanol production from 40 barrels per day to 54 barrels a day, what is the opportunity cost of the additional ethanol?

b. If Brazil increases food production from 2 tons per day to 3 tons per day, what is the opportunity cost of the additional food?

c. What is the relationship between your answers to parts (a) and (b)?

Brazil produces ethanol from sugar, and the land used to grow sugar can be used to grow food crops.
The table sets out Brazil’s production possibilities for ethanol and food crops: image text in transcribed

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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Question Posted: Jan 27, 2024 10:02 PM

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a. If Brazil increases ethanol production from 40 barrels per day to 54 barrels a day, what

Question:

Ethanol (barrels per day) 70 64 54 40 22 0 and and and and and and Food crops (tons per day) 0 1 23 LO 3 4 5

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To answer these questions we need to analyze the provided production possibilities table for Brazil ...View the full answer

Economics

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