Production possibilitiesPizzaPossibilityIn the above table, the production of 3 pizzas and 80 cases of soda isO feasible but would involve unemployed or misallocated resources.O possible only if there is inflationconomy produces with maximum efficiency.possible only if the ecO impossible uniess more resources become available or technology improves.

Answered: Production posilnies Puza (per hour)…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Question

Production possibilities
Pizza
Possibility
In the above table, the production of 3 pizzas and 80 cases of soda is
O feasible but would involve unemployed or misallocated resources.
O possible only if there is inflation
cono
my produces with maximum efficiency.
possible only if the ec
O impossible uniess more resources become available or technology improves.

Expert Solution

Step 1

Defination:

A production possibility frontier/bend is the locus of all blends of the amounts of two products/administrations or two classes of merchandise/benefits an economy can deliver when every one of its assets is completely and effectively utilized, at the given degree of innovation. The PPF of an economy addresses its ideal creation limit.

The points underneath the PPF are achievable however wasteful as they show that a portion of the assets is inactive as well as wastefully utilized. Then again, the focuses on the PPF are impossible at the current degree of assets and innovation.