-In the figure above, the curve is known as the
A) production possibilities frontier.
B) substitution options frontier.
C) opportunity cost curve.
D) production function.

Question

-In the figure above, the curve is known as the
A) production possibilities frontier. 
B) substitution options frontier. 
C) opportunity cost curve. 
D) production function.

Quizplus · Accepted Answer

The curve is known as the production possibilities frontier, which represents the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized.

-In the Figure Above, the Curve Is Known as the