Asked by Sophia Colosimo on May 11, 2024
Verified
The slope of the production possibilities frontier is:
A) positive.
B) negative.
C) zero.
D) undefined.
Production Possibilities Frontier
A curve that shows the maximum efficient production level of one good for a given level of production for another, assuming fixed resources and technology.
Slope
In mathematics and economics, slope refers to the steepness, gradient, or inclination of a line, indicating the rate of change between two variables.
- Comprehend the correlation between the slope of the production possibilities frontier and the trade-offs in economics.
Verified Answer
SS
spicy sanduneMay 16, 2024
Final Answer :
B
Explanation :
The slope of the production possibilities frontier is negative because as the production of one good increases, the production of the other good decreases. This is the opportunity cost of producing one good in terms of the other.
Learning Objectives
- Comprehend the correlation between the slope of the production possibilities frontier and the trade-offs in economics.