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ECON490 Microeconomics Assignment 1

ECON490 Microeconomics Assignment 1 (CRITICAL THINKING-1 )  Q1. “Economics is the science of choices if there are scarce resources.” examine the statement critically with the help of suitable examples. (7.5Marks) Q2. Explain the concept of the production possibilities curve (PPC).  How does PPC explain the concept of scarcity and opportunity cost? Provide a diagram showing …

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