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1:23
YouTube
Microeconomics with Michael
Production Possibilities Curve PPC The Efficiency Frontier
What is the Production Possibilities Curve PPC Economists use it to map the maximum output an economy can achieve Imagine Moshe on a deserted island If we plot every combination of fish and coconuts he can produce using his full 12 hours we get a curve That curve is the PPC Every point on the curve represents full efficiency with no wasted ...
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