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4 weeks ago
The production possibilities curve represents the set of all:

▸ nonlinear forms of production in the economy.

▸ factors of production that can be used to manufacture goods and services.

▸ combinations of goods and services that can be used in the production of other goods and services.

▸ feasible combinations of goods that the economy can produce given that a nation's resources are fully employed.
Textbook 
Microeconomics: Principles, Applications, and Tools
Edition: 8th
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Posts: 241
4 weeks ago
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feasible combinations of goods that the economy can produce given that a nation's resources are fully employed.
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