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.

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



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