Points that are productively efficient would be located where on the production possibilities frontier is inside the ppf.
What is production possibilities frontier?
- The Production Possibility Frontier is a curve on a graph that represents the possible amount that can be produced by two products if they rely on the same finite resource for manufacturing.
- PPF also plays an important role in your business.
- For example, it can show that a country's economy has reached the highest possible level of efficiency.
- PPF is the area on the graph that represents the level of production that cannot be achieved with available resources.
- When a company decides how much to produce each product, it can plot points on a graph that represent the number of products manufactured using variables based on the amount of resources available.
- Resources are limited, so if one wants to produce more, it has to take resources away from the other.
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