lectur12-page22

lectur12-page22 - produces, the greater the amount of other...

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22 An explanation of the negative slope of the PPC: The PPC is bowed out, and slopes down because of the LAW OF INCREASING COSTS: The more of one good the economy
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Unformatted text preview: produces, the greater the amount of other goods that must be given up (opportunity cost increases at an increasing rate)....
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