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A production possibility curve is a graphical representation . of the maximum output of two goods using a fixed amount of input. Any combinations of the four factors of production can be used as the input.
The production possibility curve (PPC) represents the cost of a society's choice between two different goods. The economy is said to have the highest standard of living if it operates at the frontier because it is producing as much as it can using the resources.
In case of a point being present inside the curve on the PPC,then it implies that all of the resources are not being used.
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