Based on the information provided in Problem 2-6, what is the opportunity cost to this student of allocating enough additional study time on economics to move her grade up from a 90 to a 100?
In Problem 2-6
The following table illustrates the points a student can earn on examinations in economics and biology if the student uses all available hours for study. Plot this student's production possibilities curve. Does the PPC illustrate the law of increasing additional cost?
Economics _______Biology
100 ..................... 40
90 ...................... 60
80 ...................... 75
70 ...................... 85
60 ...................... 93
50 ...................... 98
40 ..................... 100