This preview shows page 1. Sign up to view the full content.
Unformatted text preview: socially unacceptable. (owning ivory is illegal. And because its socially unacceptable/illegal, the black market price will be driven very high) True cost = explicit cost + OppCost Production possibility curve= production possibility frontier ppf...
View Full Document
This note was uploaded on 04/30/2008 for the course ECON 200 taught by Professor Park during the Spring '08 term at American.
- Spring '08