When an economy is operating at a point on its production possibilities frontier, then?

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08-09-2022
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When an economy is operating at a point on its production possibilities frontier, then?

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rafikiedu08 rafikiedu08 · Answer 1 · 2022-09-11T12:18:53+02:00

When an economy is operating at a point on its production possibilities frontier, then there is no way to produce more of one good without producing less of the other .

What is the Production possibility frontier (PPF)

The production possibility frontier (PPF) is a curve on a graph that depicts the potential output of two goods whose production is dependent on the same limited resource. Another name for the PPF is the production possibility curve.
Opportunity cost in the production of commodities is what is lost when resources are diverted from one product to another. A curve on a graph depicts the amount that can be produced to its maximum.
The production possibility frontier (PPF), which depicts situations that are impractical given the available resources, is above the curve.
The PPF illustrates that an increase in one commodity's production can only occur when the production of the other commodity falls.
Managers can use the PPF as a tool for making decisions when determining the best product mix for their organisation.

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