Production-possibility frontier
8. Which one of the following must be held constant in drawing up a production-possibility frontier?
A) The total resources.
B) The quantity of money.
C) Money income.
D) Prices.
E) The allocation of resources among alternate uses.
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Draw a Production possibility frontier
4. Jasmine's Snack shop sells two brands of potato chips. Brand X costs Jasmine 60 cents per bag, and brand Y costs her $1. Draw Jasmine's production possibilities frontier if she has $60 budgeted to spend on potato chips. Why is it not " bowed out" ?
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