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  • production-possibilities-frontier-ppf
OpenStax Principles of Macroeconomics 2e, Choice in a World of Scarcity, The Production Possibilities Frontier and Social Choices
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OpenStax Principles of Macroeconomics 2e, Choice in a World of Scarcity, The Production Possibilities Frontier and Social Choices
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By the end of this section, you will be able to:

Interpret production possibilities frontier graphs
Contrast a budget constraint and a production possibilities frontier
Explain the relationship between a production possibilities frontier and the law of diminishing returns
Contrast productive efficiency and allocative efficiency
Define comparative advantage

Subject:
Applied Science
Material Type:
Module
Date Added:
08/21/2018
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