Economics · May / June 2025 · Paper 22 · Question 3
2281
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The question as text
In 2022, Paraguay’s production possibility curve (PPC) shifted to the right. Paraguay has a mixed economic system. Its government provides merit goods and public goods. The country’s private sector is a major producer of shampoo. The firms in the shampoo industry make use of division of labour. There are several firms in the industry, but the number is declining. There is a possibility that soon there may be just one firm in the industry.
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3(a)[2]
3(b)[4]
3(c)[6]
3(d)[8]
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