2. Introductory Economic Models
PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency
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- Multiple Choice
Chuggy wants to earn a high grade in his microeconomics class, but also loves going to parties and binge drinking. The first graph illustrates Chuggy's PPF. The second graph denotes his MB curve from binge drinking. What is Chuggy's marginal cost of binge drinking if he parties for three hours a week?
485views - Multiple Choice
Chuggy wants to earn a high grade in his microeconomics class, but also loves going to parties and binge drinking. The first graph illustrates Chuggy's PPF. The second graph denotes his MB curve from binge drinking. If Chuggy achieves allocative efficiency, how many hours does he spend binge drinking per week?
415views - Multiple Choice
Chuggy wants to earn a high grade in his microeconomics class, but also loves going to parties and binge drinking. The first graph illustrates Chuggy's PPF. The second graph denotes his MB curve from binge drinking. What is Chuggy's economics grade when he achieves allocative efficiency?
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