Use the information from your production possibilities schedule to create your production possibilities curve by filling in the following graph. Use textboxes to insert text, and use lines and circles from the shapes function to illustrate your production possibilities. Be sure to mark points A through F on the graph. (5 points)

Question

07-07-2022
Business

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Use the information from your production possibilities schedule to create your production possibilities curve by filling in the following graph. Use textboxes to insert text, and use lines and circles from the shapes function to illustrate your production possibilities. Be sure to mark points A through F on the graph. (5 points)

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Tundexi Tundexi · Answer 1 · 2022-07-08T18:46:58+02:00

We need to know that the production possibilities curve is used to show the tradeoffs of resources between the production of two goods.

What is a production possibilities curve?

This refers to the model that shows combinations of products (different categories) that can be produced from a fixed amount of resources.

From the missing chart:

Resources to produce up to 15 running shoe inserts.
Resources to produce up to 10 hiking boot inserts

This means that every 2 hiking boot produced involves giving up the production of 3 running shoe.

So, the Combinations Running Shoe Inserts includes A. 0-10, B. 3-9, C. 3-8, D. 6-7, E. 6-6, F. 9-5.

Hence, the graph that shows the production possibilities curve that is created based on the information is attached below.

Read more about production possibilities curve

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