Scenario: Jack takes 3 hours to complete a painting and 6 hours to create a sculpture. He has 30 hours of time to spend on both activities.
-Refer to the scenario above.If Jack has to decide between the number of paintings and sculptures he wants to make in the given time,which of the following will best represent his options?
A) A budget constraint
B) An indifference curve
C) A production possibilities curve
D) A supply curve

Question

Quizplus · Accepted Answer

In this scenario, Jack's decision depends on how many paintings and sculptures he can produce with the given time constraint. This can be best represented by a production possibilities curve (PPC), which shows the maximum combinations of two goods that can be produced with the given inputs and technology. The PPC will illustrate the trade-off between the production of paintings and sculptures since Jack has a limited amount of time available. The budget constraint, indifference curve, and supply curve concepts are not relevant in this scenario.

Scenario: Jack Takes 3 Hours to Complete a Painting and 6