Give graphical representation of production possibility curve.
Efficiency in economics is the point at which a firm or country cannot produce more of a specific good/service without producing fewer units of another good/service. The production efficiency can be represented by the production possibilities curve (also known as production possibilities frontier).
Answer and Explanation: 1
You can find below the graphical representation of the production possibilities curve.
The production possibilities curve shows the alternatives...
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fromChapter 11 / Lesson 28
Understand what the production possibilities curve is, and learn how to construct and interpret a production possibilities curve along with the example.