Question: Conceptualize a PPF from the following table.Remember to label your axes.(Place Soybeans on the x-axis) and answer the questions that follow. Wheat 0 25 38

Conceptualize a PPF from the following table. Remember to label your axes. (Place Soybeans on the x-axis) and answer the questions that follow.

Wheat 0 25 38 52 60 65 72

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12 10 8 6 4 2 0

a) What is the opportunity cost of producing one more unit of soybeans if the current production level is 4, 6 and 8 ? (9 points)

b) Using an example, explain the Production Possibilities Curve in your own words

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