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The following table describes the production possibilities for a particular economy: 1. The following table describes the production possibilities for a particular economy: Opp. cost

The following table describes the production possibilities for a particular economy:

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1. The following table describes the production possibilities for a particular economy: Opp. cost of a Opp. cost of a Production unit of good 2 in unit of good 1 in alternative Good 1 Good2 terms of -ood1 terms of -00d 2 Use Excel to graph the Production Possibilities Frontier for this economy. Calculate the opportunity costs of the two goods and ll in the last two columns of the table. Graph the Production Possibility Frontier for this economy. Starting from position C, what is the opportunity cost of producing one additional unit of good 2? Starting from production alternative C, what is the opportunity cost of producing an additional unit of good 1? Starting at production alternative B, what is the opportunity cost of an additional unit of good 2

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