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a} What is the opportunity cost of producing Ell] n'ce? (Hint: Answer should be in terms of what is given up. So the cost of
a} What is the opportunity cost of producing Ell] n'ce? (Hint: Answer should be in terms of what is given up. So the cost of producing 9D rice is how much beef is given up} b] What is the oppoernity cost of going from possibility C to possibility D? c} What is the opportunity cost of going from possibility D to possibility E? g} Draw the production possibilib'es curve. Label it PP1. Label each of the five output combinations with the letters a through e. Label beef on the vertical axis and rice on the horizontal axis. f] Discuss the effect from a technological change and economic growth and how it will impact our 2good model
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