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PPC (Ch 2)

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PPC curve in chapter two describing its meaning, shifting, and if it becomes bowed out
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Resumo de Recurso

PPC (Ch 2)
  1. shows max. combo of two goods that can be produced w/ available resources and current tech.
    1. concave: bowed out shape with specialization
      1. shifts in the PPC: increase in economy's resource base; advancement in tech.; improvement in the rules governing the economy; giving up current leisure and working harder; giving up current consumption and investing more

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