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What is a graph that shows the combinations of output that the economy can possibly produce given...

Question:

What is a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology called?

Economic Models:

Economists make models to simplify reality and aid the understanding of concepts. Some models are mathematical, and some are created as charts, graphs, or tables.

Answer and Explanation: 1

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A production possibility curve looks like this:

Sample Micro Production Possibility Curve

Image of Micro Production Possibility Curve

This is a sample of the curve as it could be used in...

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Production Possibilities Curve: Definition & Examples

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Chapter 11 / Lesson 28
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Understand what the production possibilities curve is, and learn how to construct and interpret a production possibilities curve along with the example.


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