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Haley McCullough
on Nov 30, 2024

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Assuming the inner curve is our current production possibilities frontier,points J,N and K represent

A) an inefficient use of resources.
B) an output that is not possible to produce.
C) points of unemployed resources.
D) points of fully employed resources.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs, highlighting the trade-offs in production levels between two commodities.

Fully Employed Resources

A situation in which all available labor and capital resources are being used in the most economically efficient way.

  • Evaluate the importance and efficiency in distribution along the production possibilities curve.
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Georges MerhejDec 06, 2024
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