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Which points are most efficient for the utilization of resources on a production possibilities diagram?

Sagot :

Lanuel

The points along the curve are most efficient for the utilization of resources on a production possibilities diagram.

What is a production possibilities diagram?

A production possibilities diagram is also known as the production possibilities curve (PPC) or the production possibilities frontier (PPF) and it can be defined as a diagram which illustrates the maximum (best) combinations of two products that can be produced in an economy, if they both depend on these two (2) factors;

  • Technology is fixed.
  • Resources are fixed.

In Economics, the production possibilities diagram influences the choice of production that a company uses and as such it helps to make the most efficient and best decision regarding the utilization of resources or optimum product mix for a company.

This ultimately implies that, all points in a production possibilities diagram are efficient and resources should be used efficiently or to the maximum.

In conclusion, the points along the curve are most efficient for the utilization of resources on a production possibilities diagram.

Read more on production possibilities here: https://brainly.com/question/25899399

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