AS Paper 1, June 2017Introduction to Markets and Market Failure
AS Paper 1, June 2017, Q1(a)
Explain, using marginal analysis from the table above, the concept of opportunity cost. (You may use the last column in answering the question.)
Short answerExplain3 marks
Context
The production possibility frontier for an economy is shown in the table below. Capital goods output Consumer goods output Opportunity cost (million units) (million units)