Production would take place at a point inside the production possibility frontier
The Production possibilities curve is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.
The PPC is concave to the origin. This means that as more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.
Points inside the production possibilities curve means that the nations resources are not being fully utilised
When the unemployment rate increases, it means that labour resources are not been fully utilized. As a result, production would take place at point inside the production possibilities curve
Point outside the curve or to the right of the curve means that the production level is not attainable given the level of resources
Learn more about the production possibility curve here : brainly.com/question/12047178?referrer=searchResults
Yes, these are equivalent
Step-by-step explanation:
Answer:
Option B
Step-by-step explanation:
To solve these kind of question we just simply keep on inserting the values of x and if we get the required value of y that is in the table that equation is our answer, For example lets take Option A,
y = 8x
If we insert x = 0 we get,
y = 8(0)
y=0
but in the table it says we get 14 so option A is incorrect
Like this we keep checking for more values and all the values of x satisfy our equation in Option B like this,
and so on so Option B is the answer
