A production possibilities frontier (PPF) is O A. a curve that shows the potential productive capabilities of the frontier (defined as the area outside of cities) of a developing economy. O B. a curve showing the maximum attainable combinations of two products that may be produced with available resources and current technology. O C. a curve showing the generally attainable combinations of two products that may be produced with all planned or potential, yet undeveloped technology. O D. a curve that illustrates the demand of two goods for the average consumer.
A production possibilities frontier (PPF) is O A. a curve that shows the potential productive capabilities of the frontier (defined as the area outside of cities) of a developing economy. O B. a curve showing the maximum attainable combinations of two products that may be produced with available resources and current technology. O C. a curve showing the generally attainable combinations of two products that may be produced with all planned or potential, yet undeveloped technology. O D. a curve that illustrates the demand of two goods for the average consumer.
Chapter2: Economic Tools And Economic Systems
Section: Chapter Questions
Problem 3.5P
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