Explain, in your own words, why the production possibilities
frontier (PPF) is a downward-sloping curve. Also, explain why all
points inside of that curve represent inefficient outcomes.
Draw a market which you believe would represent the market for
a cure to the current Coronavirus. Draw and explain what would
happen to this market if an announcement was made that indicated
the number of confirmed cases doubled over the weekend.
3. As an extension of #3,
how would the approval...