How do you achieve production efficiency? What is the ratio of opportunity cost? What are the costs of economic growth?

Name: Micro Economics Notes Week 2
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Microeconomics (ECON 2106) Week 2 Notes PPF and Opportunity Costs Production Possibilities and Opportunity Cost  The quantities of goods and services that we can produce are limited by our available resources and by technology o Tradeoff: increased production of 1 good = decreased production of something else  Production Possibilities Frontier (PPF): the boundary between those combinations of goods and services that can be produced and those that cannot  The PPF illustrates scarcity because the points outside the frontier are unattainable. However, any point Production Efficiencyis considered  We achieve production efficienc