What would it take for a point beyond PPF to ultimately become attainable? Name an important assumption associated with PPF. Why are models such as PPF require broad assumptions used in economics?
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The available quantities of factors of production must be increased for a point beyond PPF to ultimately become attainable.
PPF presumes that the available quantities of factors of production in the economy do not change over time and that no technological development occurs.
To make the study easy to compare, many economic models require broad assumptions.
My Assignments Changed status to publish January 21, 2022
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