The Production Possibilities Frontier

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2023-02-03 16:31:26 -

Key Points The Production Possibilities Frontier (PPF) is a graph that shows all the different combinations of output of two goods that can be produced using available resources and technology. The PPF captures the concepts of scarcity, choice, and tradeoffs. The shape of the PPF depends on whether there are increasing, decreasing, or constant costs. Points that lie on the PPF...

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