define other names of production possibility curve.
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The production possibility frontier(PPF) is a curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors. ThePPF assumes that all inputs are used efficiently. ... The PPF is also known as the production possibility curve or the transformation curve.
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Other names of production possibility curve
Explanation:
Production possibility curve is also known as Production possibility frontier or the transformation curve.
PPC (Production possibility curve) shows various combination of two goods that can be produced with given resources , other factors including technology being constant.
It is a graphical representation and is generally Concave to the origin showing increasing opportunity cost.
Learn more:
Production possibility curve
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