The following table illustrates the points a student can earn on examinations in economics and bilogy if the student uses all available hours for study.
Economics-------------Biology
100 40
90 50
80 60
7070
60 80
50 90
40 100
Plot the student's production possibilities curve. Does the PPC illustrate the law of increasing addiitional cost?
(B) consider a change in the table. The student's set of opportunites is now as follows.
Economics-----------------Biology
100 40
9060
80 75
70 85
6093
50 98
40 100
Does the PPC illustrate the law of increasing additional cost? What is the opportunity cost to this student for the additional amount of study time on economics required to mover her grade from 60 to 70? From 90 to 100?