What is the difference between a point inside and a point on a PPC?

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04-11-2021
Business

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What is the difference between a point inside and a point on a PPC?

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tlhamo1179 tlhamo1179 · Answer 1 · 2021-11-04T23:12:40-04:00

tlhamo1179 tlhamo1179

04-11-2021

Answer:

The Production Possibilities Curve (PPC) is a model that captures scarcity and the opportunity costs of choices when faced with the possibility of producing two goods or services. Points on the interior of the P PC are inefficient, points on the P PC are efficient, and points beyond the PPC are unattainable

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