Asked by Heather Jenkins on May 14, 2024
Verified
A production possibilities frontier is a graph that shows the combination of outputs that an economy should produce.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors.
- Acquire knowledge about the theory and implementation of Production Possibilities Frontiers (PPF) in illustrating the choices and opportunity costs involved.
Verified Answer
BK
Brenden KephartMay 16, 2024
Final Answer :
False
Explanation :
A production possibilities frontier shows the maximum combination of outputs that an economy can produce given its resources and technology, not what it should produce.
Learning Objectives
- Acquire knowledge about the theory and implementation of Production Possibilities Frontiers (PPF) in illustrating the choices and opportunity costs involved.
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