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Suppose that a country produces two goods, X and Y, with two factors of production, K and L. The production technology for good X always requires 2 K or 1 L per unit of X produced,while the production of good Y requires 1 K or 2 L per unit of Y produced. What does this imply for the shape of the country's PPF? describe carefully.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M971988

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