True or False: Because the economy is producing at a point that is on the PPF, the point must represent a combination consisting
1 answer:
The statement, if an economy is producing at a point on the PPF, he point must represent a combination consisting of only good Y and none of good X is false.
<h3>What is the production possibility frontier? </h3>
The production possibilities frontier is a curve that shows the various combination of two goods a company or country can produce when all its resources are fully utilised. The PPF is concave to the origin.
Points on the curve indicate that some quantity of the two goods are being produced. Point outside the curve or to the right of the curve means that the production level is not attainable given the level of resources.
Please find attached an image of the PPF. For more information about the production possibility frontier, please check: brainly.com/question/25774783
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