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Points on a utility possibility

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Reference no: EM13148686 , Length: 192 words

Why do points on a utility possibility curve represent efficient allocations of resources? Why must the utility possibility curve be downward sloping? Draw a utility possibility curve, and show how it is possible to achieve efficiency by moving from a point within the curve and the axes to a point on the curve. Create a graph on a spreadsheet program

Reference no: EM13148686

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