production possibility curve shows the possible combination of two goods with utilization of resources do you agree?

Q: Discuss the impact of each of the following on the production possibilities frontier and illustrate…

A: a)  Unemployment refers to when all the available resources in the economy are not utilized…

Q: Using the concept of production possibility curve, explain how it can be used to  show the…

A: Production possibility curve is a frontier which shows combinations of two goods which an economy or…

Q: The various combination of goods that can be produced in any economy when it uses its available…

A: The various combination of the goods that can be produced in an economy certain when the available…

Q: The production possibilities curve represents the maximum combination of goos and services that can…

A: In business analysis, the production possibility curve (PPC)  represents the possible quantities…

Q: ency in the pro model Suppose South Africa produces only two goods: barley and laptops. The…

A: A Production Possibility Curve (PPC) represents the maximum possible combinations of two goods that…

Q: Types of Production A B D E Capital Goods 10 20 30 40 Consumer Goods 75 68 54 47 What is the…

A: Here, a production possibility schedule is given for two types of goods, capital goods and consumer…

Q: The table below shows the Production possibilities for an economy Production Alternatives Capital…

A: Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…

Q: D Bread 10. Refer to Figure 1. An economy is operating at full employment, and then workers in the…

A: The PPC is the production possibility curve that illustrates the different combinations of two…

Q: The individual production points on each person's production possibilities frontier represent their…

A: Production possibility curve is used to represent the maximum amount of output that an individual…

Q: Good B .d. b a Good A Refer to Exhibit 2.2, which shows the production possibilities frontier for…

A: The PPF is a set of points in macroeconomics where a country's economy is most efficiently…

Q: Explain the following two statements: “Education increases human capital and expands production…

A: Answer- Need to find- Explain the following two statements: “Education increases human capital and…

Q: What are various forms of the Production Possibilities Frontier and what do they illustrate relative…

A: Answer: Introduction: Production possibility frontier (PPF): It is a graph that shows the possible…

Q: The nation passes a law requiring all employers to give the employees 16 weeks paid vacation each…

A: A Production possibility frontier (PPF) curve shows the different possible combination of two goods…

Q: What is the production possibilities frontier? Explain the basics of the simple tool and illustrate…

A: The production possibility curve or production possibility frontier is a curve that shows whether…

Q: Production at a point inside the production possibilities frontier is unattainable and inefficient…

A: A production possibilities curve shows the various combinations of two goods that an economy can…

Q: Every society faces​ trade-offs because we live in a world of scarcity. Suppose a​ student-athlete…

A: Opportunity cost is defined as the foregone opportunity while selecting the first best alternative…

Q: Economy A produces more capital goods and fewer consumers goods than economy B. Which economy will…

A: Production Possibility Frontier   It is the graphical portrayal of the production of two products in…

Q: Sketch a plausible production possibility frontier that shows in general various combinations of…

A: Answer to the question is as follows:

Q: According to the CIA's World Factbook Website, in January of 2011 Swaziland surpassed Botswana as…

A: Production possibility frontier (PPF) depicts the combination of two goods that an economy can…

Q: 20. Points on the production possibility curve are a. Unattainable and efficient b. Attainable and…

A: Production possibility curve shows different combinations of two goods that can be produced with the…

Q: California has been greatly affected by the forest fires of 2020. The most likely economic impact…

A: The production possibility curve (PPC) depicts the combination of two goods that a nation can…

Q: Using your own words, describe the law of increasing opportunity costs.  Be sure to explain why this…

A: Opportunity cost is the given-up quantities of one good for the additional unit of the other…

Q: If the production possibilities frontier curve is linear and downward-sloping instead of bowed out,…

A: The production possibility frontier (PPF) is a diagramatical illustration of an economic model that…

Q: Refer to the accompanying table. Corey's opportunity cost of making of a pizza is delivering Pizzas…

A: Opportunity cost refers to the next best alternative forgone.

Q: Every point on the production possibilities curve represents? a. a greater increase in supply  b.…

A: The production possibility curve is the graphical representation of the different combinations of…

Q: Suppose a bakery has 14   employees to be designated as bread bakers​ (B) and cake bakers​ (C), so…

A: Production possibilities function is the locus of points of values of goods x and y that is the…

Q: Explain three different kinds of economic systems. Explain the Law of Diminishing Returns and…

A: Question 1) An economic system refers to the set of rules and regulation or a mechanism which is…

Q: Points on a firm's Production Possibility Curve are

A: Production possibility curve is also known as production transformation curve or production…

Q: The quantities shown are taken from a production possibilities frontier for an economy with…

A: Answer - Need to find- The blank in the table could be which value Given in the question- The…

Q: Why is the production possibility curve also called as the opportunity cost curve

A: Initially we can say that the production possibility curve is known as a curve or line which depicts…

Q: Types of Production A В E Capital Goods 10 20 30 40 Consumer Goods 75 68 54 47 What is the…

A: Opportunity cost (generally) is the cost of availing one opportunity in terms of loss of other…

Q: Suppose a society is producing capital and consumer goods. Draw production possibilities frontier…

A: The production possibility frontier (PPF) is a curve that depicts the variations in the quantities…

Q: Combinations    Rice    Shoe A    50    0 B    45    1 C    37    2 D    27    3 E    15    4 F    0…

A: Answer: (C). Opportunity cost refers to the units of a good sacrificed in order to increase the…

Q: What should I assume when I am asked to make a Production Possibilities Curve?

A: The production possibility curve is the curve that shows different combinations of goods that can be…

Q: Define Production opportunities

A: It is the ability of an individual or a firm to convert its cost into an opportunity. During the…

Q: mya and donovan produce two goods in an 8 hour day.Mya can produce 10 capital or 55 consumables and…

A: The opportunity cost of capital refers to the cost by which a person gets to choose between two or…

Q: The slope of the production possibilities frontier is called

A: Production possibility frontier shows the combinations of output that the economy can possibly…

Q: The only way that a society can produce outside the production possibilities curve is Question 9…

A: Production possibilities frontiers are used to represent the trade-off that occurs between the…

Q: Explaining the Production Possibilities Curve or PPF Explain the attainable and unattainable

A: The production possibility frontier or curve is locus of combinations of the two goods that can be…

Q: Timothy quits his job which pays $59000 a year to enrol in a 3 year degree graduate program. His…

A: Cost of opportunity refers to the expense of the next best alternative use of the factor. Here the…

Q: The production possibilities frontier curves show the concepts of scarcity, choice, opportunity…

A: A Production Possibility Frontier or PPF refers to choices that society makes by combination of…

Q: Now suppose federal, state, and local governments in the United States were engaged in a massive…

A: Production possibility curve represents the combinations of goods and services that can be done…

Q: A linear production possibilities curve indicates which of the following? a. Constant opportunity…

A: Production possibilities curve shows combinations of two goods that can be produced with the given…

Q: to the fig

A: A production possibility frontier (PPF) shows the maximum possible combinations of output of two…

Production Possibility Analysis

The production possibility analysis comprises the production possibility frontier (PPF), or the production possibility curve (PPC) to evaluate a society or even an economy. The production possibility curve represents the cost that the society has to incur for choosing between two different commodities. It is assumed that an economy that operates at the highest production possibility curve is known to have a better standard of living which the society can achieve for producing the optimum level of output which it can produce given a specified number of factors of production or inputs or resources.