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Valerie can read 30 pages of economics in an hour. She can also read 20 pages...

Valerie can read 30 pages of economics in an hour. She can also read 20 pages of philosophy in an hour. She spends 6 hours per day studying. Use the blue line (circle symbol) to draw Valerie's production possibilities frontier (PPF) for reading economics and philosophy. PPF 0 20 40 60 80 100 120 140 160 180 200 200 180 160 140 120 100 80 60 40 20 0 Economics Pages Philosophy Pages Valerie's opportunity cost of reading 40 pages of philosophy is pages of economics.

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Valerie's opportunity cost of reading 60 pages of philosophy is 90 pages of economics. She will read 60 pages of philosophy in 3 hours. In the same time she can read 90 pages of economics. So the opportunity cost of 60 pages of philosophy is 90 pages of economics.

For 6 hours Economics Philosophy 120 180 180 160 140 120 8 100 F 80 60 40 20 20 40 60 80 100 120 140 Economics

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