Responses
If the slope is greater than one, then production is being maximized, and if the slope is less than one, then production is not maximized.
If the slope is greater than one, then production is being maximized, and if the slope is less than one, then production is not maximized.
The slope represents the level of efficiency in production.
The slope represents the level of efficiency in production.
The slope represents the number of factors of production required to produce the goods.
The slope represents the number of factors of production required to produce the goods.
The slope represents the opportunity cost of producing one good instead of the other.
1 answer
The correct response is:
The slope represents the opportunity cost of producing one good instead of the other.
The slope of the production possibilities curve (PPC) indicates the trade-off between the two goods being produced, reflecting how much of one good must be sacrificed to produce more of the other good.
