Consider a change in the table in Problem 2-6.

The student's set of opportunities is now as follows:

Does the PPC illustrate the law of increasing additional cost? 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? From 90 to 100?

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?

Transcribed Image Text:

Economics 100 90 80 70 60 50 40 Biology 40 50 60 70 80 90 100