The production possibilities frontier is the boundary between the:

a. goods and services that the economy can produce.

b. affordable and unaffordable combinations of production.

c. wanted and unwanted combinations of goods and services.

d. rational and irrational choices facing society.

e. attainable and unattainable combinations of goods and services.

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manhokwe tawandaLv10

25 Mar 2021

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The production possibilities curve (PPC) shows the combinations of goods produced by the economy. Combinations of goods outside the production possibilities curve have which of the following characteristics?

a) They are attainable today only if we employ all unemployed and underemployed resources.

b) They are not attainable given our existing stock of resources and technology

c) They imply that some resources such as labor are unemployed or underemployed

d) None of the answers is correct

beigefish857

Use the figure below to answer the following question. Cat food (cons per hour) 6 6 12 Dog biscuits (boxes per hour) Figure 1 3) Figure 1 shows the production possibilities frontier for a firm that produces pet food. Point A is and point B is . This PPF illustrate scarcity because VA) attainable: unattainable, does, the firm cannot produce points outside the frontier and as the firm moves along the PPF, it cannot produce more dog biscuits without producing less cat food B) unattainable; attainable; does not the firm can produce any quantity it wants if it is willing to pay a high enough price C) unattainable; attainable; does, because the firm cannot attain the points outside the frontier D) attainable; unattainable; does not: it is downward sloping VE) attainable; unattainable; does not, the firm can produce any quantity it wants if it is willing to pay a high enough price

Combinations of goods outside the production possibilities curve.

a. They are attainable today if we employ all unemployed or underemployed resources.

b. They are not attainable given our existing lack of stock of technology and resources.

c. They imply that some resources such, as labor, are underemployed or underemployed.

d. None of the answers is correct.