Give graphical representation of production possibility curve.

Question:

Give graphical representation of production possibility curve.

Efficiency:

Efficiency in economics is the point at which a firm or country cannot produce more of a specific good/service without producing fewer units of another good/service. The production efficiency can be represented by the production possibilities curve (also known as production possibilities frontier).

Answer and Explanation: 1

Become a Study.com member to unlock this answer!

View this answer

You can find below the graphical representation of the production possibilities curve.

The production possibilities curve shows the alternatives...

See full answer below.


Learn more about this topic:

Loading...
Production Possibilities Curve: Definition & Examples

from

Chapter 11 / Lesson 28
34K

Understand what the production possibilities curve is, and learn how to construct and interpret a production possibilities curve along with the example.


Related to this Question

Explore our homework questions and answers library