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7. Explain how the production possibilities curve model shows each of the following concepts: scarcity, unemployment, efciency, opportunity cost, and economic growth. ( /10) 8.

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7. Explain how the production possibilities curve model shows each of the following concepts: scarcity, unemployment, efciency, opportunity cost, and economic growth. ( /10) 8. Use the PPC-A and PPC-B below to answer the following questions. a. On PPC-A, what is the opportunity cost from to move from point a to b? What about moving from b to c? What generalization can you make? ( B) b. On PPC-B, what is the opportunity cost to move from point a to b? What is the opportunity cost to move from point b to c? What is the per unit opportunity cost from moving from c to e? ( f3) c. Which PPC shows increasing opportunity PFC-A I x n I r P_14f"'3" '3' \"'5 " Tricycles costs? Give a numerical example to support your answer. ( f2) 25.2. 73' \\cw C 'a b PPC- B Ill) , 15$ ______' e 10

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