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

Question

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

Quizplus · Accepted Answer

The curve is known as the production possibilities frontier (PPF), which illustrates the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized, given a fixed level of technology.

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