Below is an image relating to trade-offs, opportunity cost, and production possibility curve. Answer the following questions provided in the second slide. ?

Transcribed Image Text:

1. 2. Opportunity Cost Opportunity Cost Graph Demonstrates trade offs To Move from Point A to B You must decrease Production of Bread to increase butter Production PRODUCT BREAD Y AXIS PRODUCT BUTTER Trade-Offs, Opportunity Cost and Production Possibility Curves Notes and Questions Explain the issue with: 3. Point Y 4. Point X After reading the Notes answer the following questions using the previous slide (6) in economic terms: What happens in an economy/industry that moves from: 1. Point B to Point C 2. Point C to Point A X AXI 1. 2. Opportunity Cost Opportunity Cost Graph Demonstrates trade offs To Move from Point A to B You must decrease Production of Bread to increase butter Production PRODUCT BREAD Y AXIS PRODUCT BUTTER Trade-Offs, Opportunity Cost and Production Possibility Curves Notes and Questions Explain the issue with: 3. Point Y 4. Point X After reading the Notes answer the following questions using the previous slide (6) in economic terms: What happens in an economy/industry that moves from: 1. Point B to Point C 2. Point C to Point A X AXI

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Movement between points Point C to Point A Moving from C to A represents increasing bread ... View the full answer