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(a) Discuss what is necessary to make rational decisions. Be sure to mention opportunity cost, marginal cost, and marginal benefit. (b) The figure below represents

(a) Discuss what is necessary to make rational decisions. Be sure to mention opportunity cost, marginal cost, and marginal benefit.

(b) The figure below represents the production possibilities frontier for a country.

Automobiles (millions per year) -....... .# UT A .......4 4 W C D 0 2 3 4 5 Cameras (millions per year)

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