Business, 05.05.2020 02:14 serenityarts123

Explain precisely why ‘Opportunity Cost' is always a RELATIVE concept and is never to be construed in ABSOLUTE terms. In addition, why is the PPF function never strictly convex -what is the economic implication of strict convexity? You are free to provide appropriate examples of your choice.

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Explain precisely why ‘Opportunity Cost' is always a RELATIVE concept and is never to be construed i...

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