How do we calculate opportunity cost on ppc and marginal cost?

Why is the production possibilities frontier measuring opportunity cost in terms of the other good or service?

Why is it inefficient for an economy to be inside the production possibilities frontier?

Hogwarts School of Witchcraft and Wizardry is divided into four Houses: Gryffindor, Huf- flepuff, Ravenclaw, and Slytherin. The following table shows how many books or snakes each house is able to produce every day: Gryffindor 2 1. What are the opportunity costs of one snake for each house? 2. Draw the joint PPF of Hogwarts on the graph below. it is fine if your graph is not to scale, but you must clearly label all kinks' coordinates and all intercept. Hufflepuff Ravenclaw Slytherin 5 2 5 Books Snakes

The four people listed below are the only workers In an economy that works 10 hours per day and only produces two products. Use the table below and the questlons below to construct a PPF that displays the maximum efflclent production. Basketballs Per Hour Apple Ples Per Hour LeBron Anthony Rajon Alex If the x-axis Is ples, and the y-axis is basketballs, then what is the Intercept of the PPF curve on the apple ples axis? O a (16, 0) O b (120, 0) O c (0, 120) (0, 12) 443 562m

Q2. What does point Y represent on the PPC? Production Possibility Frontier (PPF) B Product B: Cotton a) Efficiency b) Unattainable / impossible c) Inefficiency d) Nothing Answer Explain your answer: Product A: Wine

Use the PPF to answer the following question: 1. Can we determine if Point F is allocatively efficient?

Please help me explain how the economic concept of scarcity links production possibilities curves and comparative advantage. Explain how scarcity is the common foundation for PPCs and comparative adv

Explain what is meant by opportunity cost of choice

What is a good way to calculate opportunity cost?