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Students are to complete assignments in Word (or some other compatible word processor; no PDF) and apply economic concepts learned in this course to the

Students are to complete assignments in Word (or some other compatible word processor; no PDF) and apply economic concepts learned in this course to the answers submitted for evaluation. Do not submit more than ONE document for your assignment.

Diagrams 1 and 2 below depict the production possibility frontier (PPF) for Patsy's Snack Shop. Answer the questions below and show all calculations where appropriate. (35 points)

Diagram 1 Diagram 2

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