The diagram illustrates the production possibility curves for an economy in Year 1 $({X_1}{Y_1})$ and Year 2 $({X_2}{Y_2})$.
What can be concluded from the diagram?
1 )
The cost of production was lower in Year 2 than in Year 1.
The full employment level of output was lower in Year 2 than in Year 1.
3 )
The opportunity cost of production was lower in Year 2 than in Year 1.
4 )
Unemployment rose between Year 1 and Year 2.
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