Assignment:
Video, "Production Possibility Curve.ppsm".
A. Draw the production possibilities curve for automobiles and breakfast cereal, and explain how the concept of trade-off could be applied to the production possibilities curve you created, using at least 100 words. (Graphical analysis is required)
B. Explain two possible factors that could shift the production possibilities curve for automobiles and breakfast cereal outward, using at least 100 words and graph.(Graphical analysis is required)
C. Should you go to the movie theatre this Saturday or do something else? Explain this using the concept of opportunity cost, using at least 100 words.