The table in Figure 3.1 illustrates these two combinations of smartphones and bikes as possibilities A and

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The table in Figure 3.1 illustrates these two combinations of smartphones and bikes as possibilities A and B. Suppose that C, D, E, and F are other combinations of the quantities of these two goods that the economy can produce. Possibility F uses all the resources to produce 5 million smartphones a year and allocates no resources to producing bikes.

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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