1. Define opportunity costs?
Opportunity cost is the profit lost when one alternative is selected over another.
2. Identify at least two non-monetary and monetary opportunity costs you forgo to attend classes online?
3. What is a Production Possibilities Curve (Frontier)?
4. How do you determine, which points are efficiency points on the Production Possibilities Curve (Frontier)?
5. Identify at least three points on the Production Possibilities Curve (Frontier) that are efficient points?
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