Title
(2) The PPF and Constant vs. Increasing Opportunity Cost
Topic Category
Production Possibilities Frontier
Publication Date
2010
Keywords
Production Possibilities Frontier, PPF, Opportunity Cost, Increasing Opportunity Cost, Constant Opportunity Cost
Abstract
This explains the difference between Constant and Increasing Opportunity Cost and how these concepts relate to the slope of the PPF.
Recommended Citation
Crane, Steven E., "(2) The PPF and Constant vs. Increasing Opportunity Cost" (2010). Principles of Microeconomics. Paper 2.
http://epublications.marquette.edu/microecon_learning/2
Run Time
5:41
Primary Discipline
Microeconomics
Skills Delivered
Ability to distinguish between constant and increasing opportunity cost. Ability to explain economic meaning of terms.
Rigor Level
2000
Prerequisites
None
COinS