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How is the graph of a PPF model in economics shaped? Production Possibility Frontier: The PPF is a graph that depicts the possible output configurations of two products that can be manufactured using obtainable equipment and resources. Scarcity, preference, and tradeoffs are all represented in the...
Here might be some possible answers: by taking economics your students cannot take biology, physics or chemistry; they might have to give up overtime at work (if they are taking a night class); or the cost could be the forgone extra sleep they could have enjoyed if they are taking an ...