Answer to Question #37321 in Economics of Enterprise for jothi
Production Possibility Frontier - PPF is a curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.). The PPF assumes that all inputs are used efficiently.
If this economy employs advanced technology in its production processes, the PPF will shift to the right as it is the quality improvement of the economy operation.
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!