How can frontier explain concept of productive efficiency

Reference no: EM133659722

Problem: A mixed economic system incorporates aspects of both centralized command and control and a decentralized pricing mechanism. Does the United States have a mixed economic system? Explain your answer. What is a production possibilities frontier? Why is it typically drawn as a curve rather than a straight line? How can a frontier explain the concept of productive efficiency? Provide examples and explain your answer.

Reference no: EM133659722

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