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On one set of axes, sketch a community indifference curve tangent to the fairly flat section of a concave production frontier. On a secong set of axes, sketch another community indifference curve tangent to the fairly steep portion of another concave production frontier.

A) where production is if there is no trade
B) where production might be if there were trade between the two countries
C) where consumption might be, using indifference curves for the countries

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946645

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