Question

3. Efficient production takes place at any point : (a) on the production possibility curve (PPC) (b) to the right of the PPC (c) to the left of the PPC (d) off the PPC​

Answer 1

Answer:

Explanation:

The Production Possibilities Curve (PPC) is a model that captures scarcity and the opportunity costs of choices when faced with the possibility of producing two goods or services. Points on the interior of the PPC are inefficient, points on the PPC are efficient, and points beyond the PPC are unattainable.