Feb 21
Completion requirements
Opened: Thursday, 10 February 2022, 12:00 AM
Due: Monday, 21 February 2022, 11:00 AM
Reading: chapter 2 from this free online text by Taylor, Greenlaw, and Dodge: https://openstax.org/books/principles-microeconomics-2e/pages/2-introduction-to-choice-in-a-world-of-scarcity
Note: the reading implies that a PPF is about tradeoffs “society” must make, which seems to imply that budget constraints are for individual choices while PPFs are for group choices. This is false. Both are useful for describing individual choices. I hope to someday find or write a text that ignores “society” until the 5th or 6th chapter. We will discuss this in class.