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A country s choice among the production of education and nuclear submarines is an issue of opportunity cost.
Explain the issue using a PPF.
Resources are limited whereas wants are infinite and the choices made lead to opportunity costs - explained as the next-best alternative given up. The PPF determines the opportunity cost in the movement along the PPF; enhance in submarines has an opportunity cost of an amount of education as societal resources are limited.
"price makers" never want to produce in the inelastic part of their demand curve why
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