Explain PPC with an appropriate schedule and diagram.
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PPC refers to graphical representation of combination of two goods produced with the help of given resources amd technology.
Production Possibility Schedule is drawn as follows:
Possibilities. guns. butter. MRT
A. 21. 0. 0
B. 20. 1. 1:1
C. 18. 2. 2:1
D. 15. 3. 3:1
E. 11. 4. 4:1
F. 06. 5. 5:1
G. 0. 6. 6:1
Production Possibility Schedule is drawn as follows:
Possibilities. guns. butter. MRT
A. 21. 0. 0
B. 20. 1. 1:1
C. 18. 2. 2:1
D. 15. 3. 3:1
E. 11. 4. 4:1
F. 06. 5. 5:1
G. 0. 6. 6:1
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