Question

Draw a picture of a production possibilities frontier curve. Identify each axis as measuring either guns...

Draw a picture of a production possibilities frontier curve. Identify each axis as measuring either guns or butter. Select and label Point A, which is beyond the economy's ability to produce; Point B, which represents an inefficient level of production; Point C, an efficient combination of output in which more guns are produced than units of butter; and Point D, an efficient production point in which more units of butter are produced than guns. Be sure to label each clearly.

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Answer #2

Production Possiblity Curve (PPC) or Production Possiblity Frontier (PPF) is a curve that shows all the maximum combinations/possibilities for two goods that can be produced/achieved by an economy in a certain specified period of time, while assuming all resources are fully and efficiently used i.e., it shows maximum possible output.

Now, diagram of production Possiblity frontier curve asked in this question is drawn below :-

answered by: anonymous
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