Question
The following table illustrates the grades a student can earn on examinations in economics and biology if the student uses all available hours for study.
The following table illustrates the grades a student can earn on examinations in economics and biology if the student uses all available hours for study.
Economics | Biology |
100 | 40 |
90 | 60 |
80 | 75 |
70 | 85 |
60 | 93 |
50 | 98 |
40 | 100 |
1. Does the PPC illustrate the law of increasing opportunity cost? How do you know?
2. What is the opportunity cost to this student ofallocating enough additional study time on economicsto move her grade up from a 90 to a 100?
Consider a change in the table above so it now looks like this:
Economics Biology
100 40
90 50
80 60
70 70
60 80
50 90
40 100
3. Does the PPC illustrate the law of increasing opportunity cost? How do you know?
4. What is the opportunity cost to this student for the additional amount of study time on economics required to move her grade from 60 to 70?
5. What is the opportunity cost to this student for the additional amount of study time on economics required to move her grade from 90 to 100?
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