Answered: Briefly discuss why societies cannot…

Briefly discuss why societies cannot make a choice above their production possibilities curve and shoud not make a choice below it?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Briefly discuss why societies cannot make a choice above their production possibilities curve and shoud not make a choice below it?

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Production possibility frontier (PPF) shows a probable combination of two commodities produced in an economy using the available technology and resources.

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