A production possibility curve shows
...A production possibility curve shows
How much of the resources of society are used to produce a particular commodity
The rate of inflation
The rate of unemployment in the economy
The various combinations of two commodities that can be produced
Correct answer is D
The production possibility frontier (PPF) is a curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors. The PPF assumes that all inputs are used efficiently.
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Total revenue is always equal to ...
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Which of the following set of statistical tools is used for further economic analysis? ...
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