How to draw a PPF (production possibility frontier)
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PPF, opportunity cost and trade with a gains from trade example, a summary
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The following graph shows the supply curve and three different demand curves for a perfectly competitive industry. The table represents cost data for a representative firm in the industry. (Figure Cant Copy) Market Price q^* @ p^*=M C A T C @ p^*=M C A V C @ p^*=M C P^*=30 400 24 16 P^*=25 300 28 18 P^*=15 150 32 20 a. Use the data in the table and draw a graph for the representative firm in the industry when the indu
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