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Production possibility frontier

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Reference no: EM131049117

Which of the following statements about productive efficiency is true?

X It means that an economy is producing at a point on its production possibility frontier.

Y It will arise if all firms face the same prices for any inputs that are used by more than one firm, and if all firms are economically efficient.

a) Both X and Y

b) X only

c) Y only

d) Neither X nor Y

Reference no: EM131049117

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