Use the production possibility curve (PPC) to answer the question: Production possibility Curve for Zambia Milk...

 

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Use the production possibility curve (PPC) to answer the question: Production possibility Curve for Zambia Milk 3000 1800 1050 55 Honey 85 If Zambia is producing at point D and it decides to increase production of honey to 65 honeycombs, what is the opportunity cost of the decision? What can a possible reason be for the shift in the PPC from PPC1 to PPC2? (4 Marks) Use the production possibility curve (PPC) to answer the question: Production possibility Curve for Zambia Milk 3000 1800 1050 55 Honey 85 If Zambia is producing at point D and it decides to increase production of honey to 65 honeycombs, what is the opportunity cost of the decision? What can a possible reason be for the shift in the PPC from PPC1 to PPC2? (4 Marks)

Answer rating: 100% (QA)

The opportunity cost of a decision is the value of the next best alternative that is given up when that decision is made In the context of a productio... View the full answer