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A country produces pears and barley . ​1.) using the​ 3-point curved line drawing tool​, draw a representative ppc for this country. label it​ 'ppc'. ​2.)  using the point drawing tool​, show a production point that is efficient. label it​ 'a'.   ​3

User Sietse
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1 Answer

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Answer:

1) The representative PPC for the country is shown on the first uploaded image.

2)The point labeled A on the uploaded image is the efficient production point

Step-by-step explanation:

In order to gain an understanding for how the solution was gotten we need to gain an understanding of what PPC( Production Possibility curve) is

PPC (Production Possibility curve):

The Production Possibility curve (PPC) can be defined as a curve that give insight on various combinations of the amounts of two goods which can be produced within the given resource and technology it can also be as a graphical representation showing all the possible options of output for two products that can be produced using all factors of production,given that all the available resources are fully and efficiently utilized.

Looking at the diagram uploaded the TT⁾ curve represents the PPC of this economy that we are considering.The slope of the of PPC is MRT (Marginal Rate Transformation) and this measures the rate at which how much production of one goods has to be reduced to increase the production of another goo.looking at the curve we see that this PPC is negatively sloped which implies that as the production of one good increases,the production of the other goods decreases.

The point A on the curve is the efficient point because all point on the PPC curve are efficient ,since all points on the PPC represents the maximum production of goods utilizing the given resources in the best way,and the given technology.

User Brienna
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