What is the production possibilities frontier? A. a map that shows areas of the world in which capitalist production is highest B. a map that shows the frontier beyond which technological innovation is unprofitable C. a graph that shows the various combinations of resources that can be used to produce a given level of output D. a graph that shows the various combinations of output the economy can possibly produce given the available resources and technology
What is the production possibilities frontier? A. a map that shows areas of the world in which capitalist production is highest B. a map that shows the frontier beyond which technological innovation is unprofitable C. a graph that shows the various combinations of resources that can be used to produce a given level of output D. a graph that shows the various combinations of output the economy can possibly produce given the available resources and technology
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter2: Economic Systems And The American Economy
Section: Chapter Questions
Problem 9AA
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What is the production possibilities frontier?
- A. a map that shows areas of the world in which capitalist production is highest
- B. a map that shows the frontier beyond which technological innovation is unprofitable
- C. a graph that shows the various combinations of resources that can be used to produce a given level of output
- D. a graph that shows the various combinations of output the economy can possibly produce given the available resources and technology
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