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first choose two goods and choose a name for your country (could be real or imaginary). Then sketch a production possibilities curve labeling axes and
first choose two goods and choose a name for your country (could be real or imaginary). Then sketch a production possibilities curve labeling axes and showing both the x and y intercept (i.e. how much the country can produce if it only produces good X and only good Y). After this demonstrate why the curve is shaped as it is (hint: it may have to do with the concept of opportunity cost). Lastly, calculate the opportunity cost of good X in terms of Y.
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