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Economics
Macroeconomics
Production Possibilities Curve
How does a production possiblities curve illustrate how efficient an economy is?
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In a two-good world, the PPC shows the various maximum amounts of the two goods assuming the economy is producing efficiently. So, an increase in efficiency would shift the curve outward.
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How does a production possibilities curve illustrate how efficient an economy is?
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We'll be glad to check YOUR answers.
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