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Econ 1BB3 - Chapter 3 Part 1 (PFF).docx

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Department
Economics
Course
ECON 1BB3
Professor
Bridget O' Shaughnessy
Semester
Winter

Description
Richard Damra Thursday, January 10, 2013 Econ 1BB3 – Opportunity Cost Why doesn’t Sidney Crosby mow his Lawn Group A Trucks Computers Canada 600 3000 Mexico 300 1000 Group B Trucks Computers Canada 600 3000 Mexico 1000 1000 The Production Possibilities Frontier (PPF)  PPF: The combinations of output that the economy can produce given the available factors of production and production technology (Assume constant opportunity cost.  You cannot draw the graph without assuming constant opportunity cost because it will be curve instead of a straight line.  Choose a point to consume in autarky  Autark
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