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QUESTION
The PPF is: $300 = $2*S + $2*T when 0 S 50 , and the PPF is $500 = $5*S+ $2.50*T when 50lt; S 100 1) Graph this PPF (S on horizontal axis, T on the...
The PPF is: $300 = $2*S + $2*T when 0≤ S ≤ 50 , and the PPF is $500 = $5*S+ $2.50*T when 50< S ≤100
1) Graph this PPF (S on horizontal axis, T on the vertical axis).
2) Is the relative price of S increasing as more S is produced?
