Use a production possibilities frontier to describe the idea of efficiency
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Efficiency is when a market is producing the greatest possible amount given its resources. This is demonstrated by the production possibility frontier, which displays the maximum amount of a good that can be produced in relationship to the production of another good.
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Efficiency is when a market is producing the greatest possible amount given its resources. This is demonstrated by the production possibility frontier, which displays the maximum amount of a good that can be produced in relationship to the production of another good
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