Day 1
3/2/15
Law of increasing opportunity cost - Additional costs. as we produce more of one good, we
incur more costs.
Buy new grill, if i want to make more burgers
Efficient B,D,C. Anything on the curve ( full capacity)
anything inside the curve- inefficient, (A) not utilizing resources (max)
overextending, a little outside the curve. a Boom
point X is not possible right now
capital goods (y-axis), consumer goods (x-axis)
macroeconomics notes
Day 1
3/2/15
macroeconomics notes
Day 2
3/3/15