econ
posted by rayne .
Consider a change in the table in Problem 23. The
student’s set of opportunities is now as follows:
Economics Biology
100 40
90 60
80 75
70 85
60 93
50 98
40 100
Plot this student’s production possibilities curve.
Does the PPC illustrate increasing or decreasing opportunity
costs? What is the opportunity cost to this
student for the additional amount of study time on
economics required to move her grade from 60 to 70?
From 90 to 100?
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