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Refer to the above diagrams.The solid lines are production possibilities curves; the dashed lines are trading possibilities curves.The opportunity cost of producing a:
Tommaso Portinari
A notable figure from the Italian Renaissance, best known for commissioning Hugo van der Goes' "Portinari Altarpiece."
Hugo van der Goes
A Flemish painter during the Northern Renaissance, best known for his Portinari Altarpiece.
Wool Trade
A historical economic activity involving the production, distribution, and sale of wool and woolen goods, which was highly significant in medieval Europe.
Bruges
A city in Belgium known for its well-preserved medieval architecture, canals, cobblestone streets, and as a center of commerce and culture during the Middle Ages.
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