Question
Why is the production possibilities frontier (PPF) typically bowed-outward? Under what circumstances would the PPF be a straight line?
Why is the production possibilities frontier (PPF) typically bowed-outward? Under what circumstances would the PPF be a straight line?
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Macroeconomics Principles And Policy
Authors: William J. Baumol, Alan S. Blinder
11th Edition
0324586213, 978-0324586213
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