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Assume that the diagram below represents the production possibility of a hypothetical economy:
What is the opportunity cost of 1 boat if the economy moves from C to B?
What is the opportunity cost of 1 truck when the economy moves from A to C?
What point depicts unemployment in the economy?
What point is not attainable?
If this country was a major oil producer but the oil reserves are depleted what will happen to the production possibility frontier?