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Imagine you own your own business. How would you evaluate opportunity costs and comparative advantage when making business decisions? Refer to the Production Decisions graph

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  • Imagine you own your own business. How would you evaluateopportunity costs and comparative advantagewhen making business decisions?
  • Refer to the Production Decisions graph generated from the simulations. What role does theproduction possibility frontier (PPF) modelhave in making business decisions regarding specialization and trade?

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End of Round 1 - (No Trade) The Solution Your Solution Our analysts have determined that to produce the Units Produced most combos, you need to produce: Burgers Fries 80 80 Combos You Sold: 0 Optimal Combos: 80End of Round 1 - (With Trade) The Solution Your Solution Our analysts have determined that WITHOUT Units Produced Traded Final TRADE, the optimal solution was: Burgers 22 Fries -14 80 80 Combos You Sold: 0 Optimal Combos: 80 Were you able to do better WITH TRADE

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