Econ Final Flashcards | Quizlet
quizlet.com › 757275152 › econ-final-flash-cardsComparative advantage- How to calculate opportunity cost Opportunity Cost(B) = Loss In A/Gain in B, ex. OC(bread)= 30/30 = 1 How to graph a production possibility frontier Graph each individuals PPF, starting with the smallest opportunity cost, ending with the highest opportunity cost. ex. Harry potter example from PSET.
Opportunity cost - Khan Academy
www.khanacademy.org › v › opportunity-costOpportunity cost is the trade-off that one makes when deciding between two options. The example of choosing between catching rabbits and gathering berries illustrates how opportunity cost works. The related concept of marginal cost is the cost of producing one extra unit of something. Created by Sal Khan. Sort by: