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Answer all the questions. QUESTION 1 (CLO2) a. Explain the definition of the production possibility curve and the assumptions that used in explaining the concept
Answer all the questions. QUESTION 1 (CLO2) a. Explain the definition of the production possibility curve and the assumptions that used in explaining the concept with the aid of diagrams. (6) b. Using the production possibility curve, briefly explain the following situations: i. The problem of unemployment and waste ii. The problem of technological change iii. The problem of economic growth
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