# Suppose you have a job that allows you to spend up

## Suppose you have a job that allows you to spend up to 40 hours per week at work.

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1. Suppose you have a job that allows you to spend up to 40 hours per week at work. If you work 40 hours per week, however, you have no time for studying but your standard of living is much higher. If you study for 40 hours per week, you have no time to go to work but you receive much better grades. Draw a production possibilities frontier (PPF) that represents this situation. Use this curve to explain:

• scarcity,
• opportunity cost,
• efficient,
• inefficient and unattainable points,