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26 October, 16:25

How does a production possibility chart assist in outlining opportunity cost?

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  1. 26 October, 18:50
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    Because it can compare production numbers of one product to another.

    Opportunity cost is the loss of potential gain as a result of choosing an alternative. By gaining the ability to predict the amount of productions from different alternatives, the production possibility chart can give a little bit prediction about opportunity cost
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