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is this right.?? What is the PPF and what is it primarily demonstrating? What points are efficient, inefficient, or impossible? Why is the PPF curved?
is this right.?? What is the PPF and what is it primarily demonstrating? What points are efficient, inefficient, or impossible? Why is the PPF curved? Production Possibilities Frontier (PPF) is a diagram that shows the productively and allocatively efficient combinations of two products that an economy can produce given the resources it has available. The slope of the production possibilities frontier shows the opportunity cost. This production possibilities frontier shows a trade-off between devoting social resources to healthcare and devoting them to education
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