1.What is the difference between positive economics and normative economics? Between microeconomics and macroeconomics?

2.Explain what a production possibilities frontier (PPF) represents.

State the law of increasing opportunity costs and explain why it holds.

Use the PPF to demonstrate choice and opportunity cost.

620 A B 610 590 C 540 485 E 380 F Rolls of Paper Towels 220 H 10 20 30 40 50 60 70 Books