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Business

Economics

Use a production possibilities frontier to describe the idea of "efficiency"?

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter1: What Economics Is About

Section1.2: A Definition Of Economics

Problem 2ST

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Use a production possibilities frontier to describe the idea of "efficiency"?

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Production is efficient if it is produced at production possibility curve.

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