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Say an economy is producing on its production possibilities frontier (PPF) with a combination of 2,000 units of clothing and 0 units of food. This
Say an economy is producing on its production possibilities frontier (PPF) with a combination of 2,000 units of clothing and 0 units of food. This combination is an example of
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Neither productive efficiency or allocative efficiency
Productive efficiency but probably not allocative efficiency
Both productive efficiency and allocative efficiency
Allocative efficiency but probably not productive efficiency
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