Production possibility curve refers to the maximum output combination which a firm can produce when it productive resources are fully utilised
production possibility frontier shift leftward
production possibility curve
With the introduction of new technology and new resources will shift the production possibility frontier.
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
Production Possibility Frontier.
production possibility frontier shift leftward
production possibility curve
With the introduction of new technology and new resources will shift the production possibility frontier.
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
Production Possibility Frontier.
under what conditions an econoy would be operating inside its production possibility frontier?
as in production possibility curve compares production rates of two commodities, this compares prices of different commodities.
How would a production possibility frontier would be effected by a reduction in the standard number of hours worked?
Setting up efficient production
quantities of productive inputs
An opportunity cost is the alternative choices that can be made with the allocation of scarce resources. A production possibility frontier is a graph illustrating those opportunities and comparing their results.