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a) Does the PPC illustrate the Law of Increasing Additional cost? Explain your answer.
As the student allocates more time studying Biology, the amount of points that could have been earned in Economics decreases. Therefore, it does not illustrate the Law of Increasing Additional Cost.
b) What is the Opportunity cost to this student for the additional amount of study time on economics required to move her grade from 60 to 70?
It would cost her 8 points forgone in Biology....
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