Draw and explain a production possibilities frontier

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Draw and explain a production possibilities frontier for an economy that produces milk and cookies. What happens to this frontier if disease kills half of the economys cow population?

most countries, including the United States, import substantial amounts of goods and services from other countries. Yet The chapter says that a nation can enjoy a high standart of living only if it can produce a large quantity of goods and services itself. can you reconcile these two facts?

Reference no: EM1351305

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