Answer:
B) opportunity costs.
Explanation:
The production possibility frontier is used to illustrate the concept of opportunity costs. The production possibility frontier shows the combination of goods which can be produced by making use of all the available resources in an economy. In order to produce an extra unit of one good, some amount of other good has to be sacrificed. This is known as opportunity cost.
The production possibility frontier is applied for illustrating the concept of option b. opportunity costs.
The production possibility frontier represent the combination of the goods that need to be generated via using the resources that are available that time. For generating the additional unit of one good, the some value of the other goods need to be sacrificed. So for that we know as the opportunity cost.
Therefore, we can conclude that the option b is correct.
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