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With reference to a traditional productionpossibility curve involving consumer goods and capital goods produce diagrams to illustrate both the shortterm and longterm consequences of dedicating

With reference to a traditional productionpossibility curve involving consumer goods and capital goods produce diagrams to illustrate both the shortterm and longterm consequences of dedicating more resources to capital goods production than to consumer goods production

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The Production Possibilities Frontier and Social Choices Just as individuals cannot have everything they want and must instead make choices society as a whole cannot have everything it might want eith... blur-text-image

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