The production possibilities frontier shows

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Reference no: EM131104226

The production possibilities frontier shows the ________ combinations of two products that may be produced in a particular time period with available resources.

1) if consumers decide to buy more of a product its price will increase

2) a market economy is more efficient in producing goods and services than is a centrally planned economy

3) economic growth can only be achieved by free market economies

4) if all resources are full and efficiently utilized, more of one good can be produced only by producing less of another good

Reference no: EM131104226

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