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.
value of the next best alternative. It applies to both the supply side of the market. (production) and the demand side of the market (consumption). A graph of the production possibility frontier (PPF) demonstrates the. existence of opportunity costs (see below). The PPF is the boundary line. showing what combinations of two goods are possible to produce (or buy) given. the full employment of resources (the line with the diamonds).