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Problem

Why is a production possibilities frontier typica…

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Srikar K.

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Problem 1 Problem 2 Problem 3 Problem 4 Problem 5 Problem 6 Problem 7 Problem 8 Problem 9 Problem 10 Problem 11 Problem 12 Problem 13 Problem 14 Problem 15 Problem 16 Problem 17 Problem 18 Problem 19 Problem 20 Problem 21 Problem 22 Problem 23 Problem 24 Problem 25 Problem 26 Problem 27

Problem 11 Easy Difficulty

What does a production possibilities frontier illustrate?

Answer

PPF is a curve rather than a straight line and the combinations possible inside it are wasteful and outside are unattainable.

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Principles of Microeconomics for AP® Courses

Chapter 2

Choice in a World of Scarcity

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Video Transcript

so production possibilities. Frontier as the name suggests, um is a graphical representation of all the possible amounts of production using all our resources. So if we get something on this point on the curb, it means that we're using all our resource is to make x amount of pizza. And why amount of burgers or why? Number of burgers. Um, if we are talking about something within the production possibility frontier, we're not using all our resources. Um, if we're talking about something outside of the production possibility frontier, we're talking about things that are outside, um, the possibility of production. Um, yeah. So this is the the thief, the tradeoffs between burgers and pizza or the amount of burgers and pizzas that we could get at each while using all our resources.

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Steven A. Greenlaw, David Shapiro, Timothy Taylor

Principles of Microeconomics for AP® Courses

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How Markets Work