Subjects
| Sections | |||
|---|---|---|---|
| Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency | 19 mins | 0 completed | Learn |
| PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency | 22 mins | 0 completed | Learn |
| PPF - Outward Shifts | 9 mins | 0 completed | Learn |
| PPF - Comparative Advantage and Absolute Advantage | 18 mins | 0 completed | Learn |
| PPF - Comparative Advantage and Trade | 19 mins | 0 completed | Learn |
| PPF - Price of the Trade | 4 mins | 0 completed | Learn |
Practice: If Joe and Carla plan to specialize and trade, what should Joe produce?
Practice: If Joe and Carla plan to specialize and trade, what should Carla produce?
Practice: Assume that Joe and Carla will trade Scrambled Eggs and Fresh Squeezed Orange Juice at a rate of 1.2 Eggs for 1 OJ. If Joe’s consumption after trade includes six eggs, what will be Carla’s consumption after trade?
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