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Combinations    Rice    Shoe           A                   50    0           B                   45    1           C                   37    2           D                   27    3           E                   15    4          F                      0    5 A). Draw the Production Possibility curve with Rice on the vertical axis and shoes on the horizontal axis.  B). Explain why the combination of production located on the production possibility curve are superior to the combination located inside the curve.

Combinations    Rice    Shoe           A                   50    0           B                   45    1           C                   37    2           D                   27    3           E                   15    4          F                      0    5 A). Draw the Production Possibility curve with Rice on the vertical axis and shoes on the horizontal axis.  B). Explain why the combination of production located on the production possibility curve are superior to the combination located inside the curve.

Brief Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter2: Thinking Like An Economist
Section: Chapter Questions
Problem 3CQQ
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Combinations    Rice    Shoe
          A                   50    0
          B                   45    1
          C                   37    2
          D                   27    3
          E                   15    4
         F                      0    5


A). Draw the Production Possibility curve with Rice on the vertical axis and shoes on the horizontal axis. 


B). Explain why the combination of production located on the production possibility curve are superior to the combination located inside the curve. 



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