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The Production Possibilities Model is one of the first Economic Models students learn about. Please refer to the material covered in the topic called The

The Production Possibilities Model is one of the first Economic Models students learn about. Please refer to the material covered in the topic called The Economizing Problem. Please define Productive Efficiency and explain how it relates to the Production Possibility Curve. Please define Allocative Efficiency and provide a thorough explanation of the 2-step process for finding the point of allocative efficiency on the PPC.

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