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In business analysis, the production possibility frontier (PPF) is a curve illustrating the varying amounts of two products that can be produced when both depend
In business analysis, the production possibility frontier (PPF) is a curve illustrating the varying amounts of two products that can be produced when both depend on the same finite endowment of resources by one country. The PPF demonstrates that the production of one commodity may increase only if the production of the other commodity decreases in economy. By using the Production Possibilities Frontier Curve (PPF), explain briefly with example the concepts of: 1) Inefficient allocation of resources 2) Efficient allocation of resources 3) Unattainable point. 4) Scarcity of resources
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