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b. Discuss the items you would include to figure out the opportunity cost of a vacation to Northern Pakistan? (0.5 Marks) Answer Question # 2: (2 Marks) a. Draw and explain a production possibilities frontier for an economy that produces cheese and milk. What happens to this frontier if a disease kills half of the economy’s cows? (1 Mark) b. Use a production possibilities frontier to describe the idea of “efficiency.” (1 Mark)
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