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2. Introductory Economic Models
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Problem 1
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Problem 3
Problem 4
Problem 5
Problem 6
Problem 7
Problem 8
Problem 9
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Problem 11
Problem 12
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Problem 15
2. Introductory Economic Models
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2. Introductory Economic Models / PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency / Problem 4
Problem 4
What does the outward bow shape of a Production Possibilities Frontier (PPF) indicate?
A
Allocative efficiency
B
Increasing marginal opportunity costs
C
Constant opportunity costs
D
Decreasing opportunity costs
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