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Australia produces both beer and beef. The land used to build breweries for making beer can also be used to farm cattle. The table below
Australia produces both beer and beef. The land used to build breweries for making beer can also be used to farm cattle. The table below shows Australia's daily production possibilities for beer and beef. Beer Beef (millions of barrels (million tonnes per day) per day) 80 and 75 and 70 and 60 and 0 and 10 1. Draw Australia's production possibility frontier (PPF). 2. Calculate the opportunity cost for Australia when it increases the daily production of beer from 60 million barrels to 75 million barrels
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