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Assume that the production possibilities for Badlands are the following combinations of kegs of beer and sides of beef in the table below.Graph the production
Assume that the production possibilities for Badlands are the following combinations of kegs of beer and sides of beef in the table below.Graph the production possibilities curve with beef on the y-axis and beer on the x-axis and answer the following questions: (10 pts)
Beef (sides)
Beer (kegs)
66
0
64
1
60
2
54
3
48
4
35
5
0
6
(e) Why is the opportunity cost increasing as we produce more and more kegs of beer and move along the productions possibility curve from point to point?
d) Is it better to produce more beef or more beer?Explain.
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