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What does PPF stand for in economics?
(2) The opportunity cost of producing good X using technology A is lower than the opportunity cost of producing good X using technology B. If technology A is used, as more X is produced, _ , and if technology B is used A) we move along the PPF; the PPF shifts inward B) we move along the PPF; we move inside the PPF C) the PPF shifts outward; the PPF shifts inward D) we move outside the PPF; we move inside the PPF E) the PPF shifts outward; we move inside the PPF Andy 8 (24
The first principle of economics is that people face trade-offs. Use a Production Possibility Frontier to illustrate society's tradeoff between a clean environment and quantity of industrial output. What determines the shape of the PPF?