a. Define a production possibilities frontier? Use an example to explain the assumptions of the economic model. Support

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answerhappygod
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a. Define a production possibilities frontier? Use an example to explain the assumptions of the economic model. Support

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a. Define a production possibilities frontier?
Use an example to explain the assumptions of the economic model.
Support your answer with graphical representation of PPF and label efficient and inefficient
points.
b. If new production technology is introduced what will be the effect on PPF?
c. What is the concept of "comparative advantage"?
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