Which of the following is not true about a production possibilities curve? The curve: a....
Question:
Which of the following is not true about a production possibilities curve?
The curve:
a. indicates the combinations of goods and services that can be produced with a given technology.
b. indicates the efficient production points.
c. indicates the nonefficient production points. d. indicates the feasible (attainable) and non-feasible production points.
e. indicates which production point will be chosen.
Production Possibilities Curve:
The Production Possibilities Curve (PPC) is constructed using the concept of opportunity cost. The unique shape of the PPC is because of the assumption of increasing opportunity costs.
Answer and Explanation: 1
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View this answerThe correct option is e. indicates which production point will be chosen.
The PPC cannot show which production point is to be chosen. What it does...
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Production Possibilities Curve: Definition & Examples
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Chapter 11 / Lesson 28
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Understand what the production possibilities curve is, and learn how to construct and interpret a production possibilities curve along with the example.
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