The PPF is: $300 = $2*S + $2*T when 0 50, and the PPF is $500 = $5*S+ $2.50*T when 50 iless than(lt;) S less than or equal to 100 .

The PPF is:  $300 = $2*S + $2*T when 0 50, and the PPF is $500 = $5*S+   $2.50*T when  50 iless than(<) S less than or equal to 100  .

1)    Graph this PPF (S on horizontal axis, T on the vertical axis).      

2)    What is the relative price of S in terms of T when S = 25? When S = 75?

3)    Is the  relative price of S increasing   as more S  is produced?  

Suppose there is only one input, Labor. Our economy has 100   units   of L. We         can produce S and T         in the following way:  S= 4* L and T = 1*L

4)    graph the PPF for this?

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