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    Which of the following statements is correct?

    Options :-

    1. In a two-good economy, the production possibilities frontier reflects the maximum amount of one good that can be produced when a given amount of the other good is produced.
    2. Microeconomics is the study of the behaviour of the economy as a whole.
    3. Positive economics focuses on welfare of the people of a society.
    4. None of these
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