Opportunity Cost

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Department
Economics for Management Studies
Course
MGEA02H3
Professor
All Professors
Semester
Fall

Description
Opportunity  cost  (From  fall  2011  term  test  1,  question  1-­‐3)     PPF:  Y=8(400-­‐X ) 2 0.5     Question  1   Given  that  the  economy  is  producing  efficiently  and  has  chosen  to  produce  and   consume  12  units  of  X  and  128  units  of  Y.  Use  calculus  to  obtain  the  opportunity   cost  of  Y     Question  2   Given  that  the  economy  is  producing  efficiently  and  has  chosen  to  produce  and   cons
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