What Is the Production Possibilities Curve in Economics?
Jun 29, 2021 · How the Production Possibilities Curve Works . The production possibility curve portrays the cost of society's choice between two different goods. An economy that operates at the production possibility frontier, or the very edge of this curve, has the highest standard of living it can achieve, as it is producing as much as it can using its resources. If the amount produced is inside the curve, …
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