Discovered a site that explained the PPF in plain English, click HERE
Chapter 1 of the study guide talks about the PPF, so for a great explanation, click HERE
A little note on the opportunity cost formula. Remember Rise over run in math? Change in Y over Change in X??? Think of it as the same but without the "Change in", so it would be
Y/X
Y= What we had to give up
X = What we got in return
So the opportunity cost of a Unit of X = Y/X
Any questions please post a comment here or send me an email or post your questions here:
http://bscmanagement.yuku.com
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