Creating Production Possibilities
Schedules and Curves
Student Assignment
In this assignment, you will create a production possibilities schedule and curve to
determine what your opportunity costs are and which product is the best for you to
produce.
Directions:
1. Gather materials and necessary information.
a) Ask your teacher which word-processing software you will be using.
b) Keep your lesson and assignment open in case you need to review what you
have learned.
2. Read and follow each set of instructions carefully.
a) Compete the production possibilities schedule and production possibilities curve,
starting with the information provided. Be sure to ask your teacher for help if you
are not sure how to do this.
b) Make sure you complete the questions on each page.
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Assignment: Determining Production Possibilities
You are getting ready to open The Shoe Hut, but you need to need to determine
whether you have the absolute or comparative advantage in the production of
specific items. This will help you determine which product is the best for
specialization.
Your production possibilities are as follows:

You have the resources to produce up to 15 running shoe inserts.

You have the resources to produce up to 10 hiking boot inserts.

For every 2 hiking boot inserts produced, you give up the production of 3
running shoe inserts.
Your production possibilities schedule will help you determine:

your opportunity costs.

your best options for production.
Scroll to the next page to complete your production possibilities schedule.
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1. Using the information that you learned about your ability to produce running
shoe inserts and hiking boot inserts, complete your production possibilities
schedule. (5 points)
Combinations
Running shoe
inserts
Hiking boot inserts
A
15
0
B
12
2
C
9
4
D
6
6
E
3
8
F
0
10
2. Use the information from your production possibilities schedule to create your
production possibilities curve by filling in the following graph. Use textboxes to
insert text, and use lines and circles from the shapes function to illustrate your
production possibilities. Be sure to mark points A through F on the graph. (5
points)
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3. Based on the data within your schedule and curve, are you using your
resources efficiently? Support your answer using the data presented. (5
points) I would say that I am using my resources effciently when I specialize in
producing running shoe inserts because I am able to produce a higher
quantity of them, assuming that their is not a substantial price different that
between each of the shoe insert types. This is because when I only produce
running shoe inserts I am able to create 15 of them but when I produce Hiking
boot inserts I am only able to produce ten, with the resources I have available.
For every 2 hiking boot inserts I made the opportunity cost is 3 running shoe
inserts, meaning that this is one less shoe insert that could have been
produced with my resources.
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4. Based on the information you used to create your schedule and curve, which
product would you recommend the Shoe Hut focus on, and why? Provide
details that support your answer. (5 points) I would recommend that the shoe
hut focus on producing running shoe inserts because this have the maximum
number of products possible, with the amount of resources I have. Stores
seek to maximize profits and in this case that would mean focusing on only
producing running shoes so that the maximum amount of shoe inserts can be
sold for the highest proÞt. Criteria A or only selling running shoe inserts in the
situation would be the best option for production.
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