7. Plot the PPC of a nation given by the following data. All Other Goods Combination Health Care A 100 B 25 90 50 70 D 75 40 E 100 a Cakulate the marginal opportunity cost of cach combination. h What is the opportunity cost of combination C? c Suppose a socond nation has the following data. Plot the PPC, and then determine which nation has the comparative advantage in which activity Show

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Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.