When most people think of vegetarians, they think of lacto-ovo-vegetarians. People who do not eat beef, pork, poultry, fish, shellfish or animal flesh of any kind, but do eat eggs and dairy products are lacto-ovo vegetarians (âlactoâ comes from the Latin for milk, and âovoâ for egg). Lacto-vegetarian is used to describe a type of vegetarian who does not eat eggs but does eat dairy products.
Also in the context of consumption possibility curve, the opportunity cost of the x-axis product is equal to the price of x divided by the price of y, to calculate it for the y-axis product, we take the inverse of that number. Presented by: Ablay, Bernadeth.
how does a production possibilities curve illustrate how efficient an economy is? A production possibilities curve represents the maximum level of production an economy can attain. By comparing the economies actual level of production to the actual curve, one can determine how efficient the economy is.