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A popular model used to illustrate the concept of opportunity cost is?
The Production Possibilities frontier/curve
Why the production possibilities frontier graph is in curve?
the increasing costs resulting in increasingly less outputIt means underutilization of resources.
Producers can use a production possibilities frontier for what purposes?
A production possibilities frontier, or PPF, is a curve graph which shows combinations of two or more goods or services. The graph shows these goods or services being produced while using a maximum amount of resources.
What line on a production possibilties curve shows the amounts of goods produced?
The line on a production possibilities curve (PPC) that shows the amounts of goods produced is known as the production possibilities frontier (PPF). This curve illustrates the maximum feasible output combinations of two goods that can be produced with available resources and technology. Points on the curve indicate efficient production levels, while points inside the curve represent inefficiency, and points outside the curve are unattainable with current resources.
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
A popular model used to illustrate the concept of opportunity cost is?
The Production Possibilities frontier/curve
An economy working below its most efficient production levels?
An economy working below its most efficient production levels points inside the production possibilities frontier. This is in the context of a production possibilities curve.
Why the production possibilities frontier graph is in curve?
the increasing costs resulting in increasingly less outputIt means underutilization of resources.
Producers can use a production possibilities frontier for what purposes?
A production possibilities frontier, or PPF, is a curve graph which shows combinations of two or more goods or services. The graph shows these goods or services being produced while using a maximum amount of resources.
What line on a production possibilties curve shows the amounts of goods produced?
The line on a production possibilities curve (PPC) that shows the amounts of goods produced is known as the production possibilities frontier (PPF). This curve illustrates the maximum feasible output combinations of two goods that can be produced with available resources and technology. Points on the curve indicate efficient production levels, while points inside the curve represent inefficiency, and points outside the curve are unattainable with current resources.
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
Is the United States on the production possibilities curve?
no
What is shown on a production possibilities frontier curve?
It shows a range of two product quantities that may be created from limited resources. By Lecho648
What is ppc curve in micro economics?
PPC is nothing but providing the better understandment of trade offs by an individual or society, it also referred as production possibilities frontier.
What are the other names for production possibility curve?
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
Illustrate on Production Possibility Frontier diagram if the economy experiences a technological boom?
In economics, the production possibility frontier (the PPF, also called the production possibilities curve (PPC) or the "transformation curve") is a graph that depicts the trade-off between any two items produced. It indicates the opportunity cost of increasing one item's production in terms of the units of the other forgone. ( hope you can build on this) -- BY ASMA In economics, the production possibility frontier (the PPF, also called the production possibilities curve (PPC) or the "transformation curve") is a graph that depicts the trade-off between any two items produced. It indicates the opportunity cost of increasing one item's production in terms of the units of the other forgone. ( hope you can build on this) -- BY ASMA
Is the outward curve of the production possibilities curve good or bad?
it really good
