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For this assignment sketch your own production possibilities frontier. Label the Y axis capital and the X axis labor. From there you will need to
For this assignment sketch your own production possibilities frontier. Label the Y axis capital and the X axis labor. From there you will need to make up numbers to put on the X and Y intercept. For my example, I would put Capital as 100 units and Labor as 50 units. Then calculate the opportunity cost of labor in terms of capital. This is an exercise to see the relationship of cost to a firm, even though we are using the PPF which models production in a country
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