Unit_2_Exercise - WWW.YORKVILLEU.CA BUSI 1023 INTRODUCTION TO ECONOMICS FOR MANAGERS UNIT 2 EXERCISES Question 1(50 points Diagram 1 Diagram 2

Unit_2_Exercise - WWW.YORKVILLEU.CA BUSI 1023...

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BUSI 1023 1 BUSI 1023: INTRODUCTION TO ECONOMICS FOR MANAGERS UNIT 2 EXERCISES Question 1 (50 points) Diagram 1 Diagram 2 Diagram 1 above depicts the production possibility frontier (PPF) for a Patsy’sSnack Shop. a.Using the information provided, and by referring to points or values on the diagram, explain in one paragraph how Diagram 1 illustrates the problem of scarcityfor Patsy’s Snackshop.

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