1. Table 1 shows an economy that produces education services and consumption goods. If the economy currently...

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1. Table 1 shows an economy that produces education services and consumption goods. If the economy currently produces 500 graduates a year and 2,000 units of consumption goods, what is the opportunity cost of one additional graduate?

TABLE 1 Fish Possibility (pounds) A B C D E F 0 and 20 1 and 18 and 15 and 11 and 6 and 0 2 3 345 Berries

2. How does an economy grow? Explain why economic growth is not free.

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Foundations Of Economics

ISBN: 9780134486819

8th Edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Dec 08, 2023 08:02 AM

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1. Table 1 shows an economy that produces education services and consumption goods. If the economy currently...

Question:

TABLE 1 Fish Possibility (pounds) A B C D E F 0 and 20 1 and 18 and 15 and 11 and 6 and 0 2 3 345 Berries (pounds) 5

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1 By increasing the number of graduates from 500 to 750 the quantity of consumption goo...View the full answer

Foundations Of Economics

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