The production possibility frontier is actually a data set of values that produce a curve expressing opportunity cost on a graph. Opportunity cost is how economists understand the trade-offs and ...

Production Possibility Frontier (PPF) and the Pareto Efficiency The Pareto Efficiency, a concept named after Italian economist Vilfredo Pareto, measures the efficiency of the commodity allocation ...

The production-possibility frontier is strictly concave and negatively sloped if two commodities are produced according to linearly homogeneous, strictly quasi-concave production functions that use, ...

Production possibilities frontier example The following chart shows an economy that only produces a combination of cars and airplanes from a fixed set of resources. For example, these resources ...