The graph presents a production possibilities curve, or frontier, PPF for the nation of New Carnitas. Each point on this curve represents a combination of steak and potatoes that this country can produce given its resources and technology. Based on the information in the graph, place the points as indicated.
Point A is an attainable and efficient combination of steak and potatoes.

Point B is consistent with the full employment of available resources.

Between points C and D, the opportunity cost of 1 pound of steak is 2 pounds of potatoes.

Between points E and F, the opportunity cost of 1 pound of potatoes is 3 pounds of steak.

Point G represents an unattainable combination of steak and potatoes.

Point H represents an inefficient use of New Carnitas's resources.

Question

27-02-2022
Business

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The graph presents a production possibilities curve, or frontier, PPF for the nation of New Carnitas. Each point on this curve represents a combination of steak and potatoes that this country can produce given its resources and technology. Based on the information in the graph, place the points as indicated.
Point A is an attainable and efficient combination of steak and potatoes.

Point B is consistent with the full employment of available resources.

Between points C and D, the opportunity cost of 1 pound of steak is 2 pounds of potatoes.

Between points E and F, the opportunity cost of 1 pound of potatoes is 3 pounds of steak.

Point G represents an unattainable combination of steak and potatoes.

Point H represents an inefficient use of New Carnitas's resources.

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ogorwyne ogorwyne · Answer 1 · 2022-03-01T14:10:50+01:00

Given that the graph is not shown here these are the basic points in a production possibility curve.

The attainable point in a production possibility curve

This is the point that lies on the curve of the PPC. This point can be produced by the resources that are available at the moment.

The full employment of resources on the PPC

This is the point that has all the resources in the economy being used in the production of goods and resources.

The unattainable point in a PPC

The unattainable point in the curve is the point that is outside of the curve. At this point the resources available cannot be used for production.

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