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Using Slope to Compute Opportunity Cost
Source: Council for Economic Education (EconEdLink) | Type: Lesson

Students learn the basic economic concept of opportunity cost and draw a production possibilities frontier to learn the constraints a society faces when deciding what to produce. After reviewing opportunity cost, students learn that the math concept of slope can be used to model the opportunity cost of a production possibilities frontier. They practice computing slope on simple, linear production possibilities frontiers before examining the more realistic concave production possibilities model. Students end the lesson by speculating why the opportunity cost of producing goods changes at various points along the production possibilities frontier.




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