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Microeconomics
Learn the toughest concepts covered in Microeconomics with step-by-step video tutorials and practice problems by world-class tutors
Table of contents
Introductory Economic Models
Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency
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The PPF helps us understand scarcity and opportunity costs. Wow!
1
concept
Understanding the PPF
6m
Play a video:
2
example
PPF - Attainable and Efficient
4m
Play a video:
3
Problem
A point inside the production possibilities frontier is
A
Attainable, but inefficient
B
Efficient, but unattainable
C
Efficient and attainable
D
Inefficient and unattainable
4
Problem
The economy of Clutchtopia can be summarized as seen on the PPF below. Consider the production mixes denoted alongside the graph. Mark the levels of production as Attainable (A) or Unattainable (U). If production is attainable, mark the level of production as Efficient (E) or Inefficient (I).
