Question

How does a production possibility chart assist in outlining opportunity cost?

It compares profit potential of one product to another.
It compares production cost of one product to another.
It compares production numbers of one product to another.
It compares consumer demand of one product to another.

Answer 1

Answer:

its c

Explanation:

just took test:)

Answer 2

It compares production numbers of one product to another.

Production Possibilities Curve

• The Production Possibilities Curve, also known as the Production Possibilities Frontier, is a graph that indicates how many units a firm can produce if it only makes two items and uses all of its resources efficiently.
• The opportunity cost of a specific activity option is the loss of value or benefit that would be incurred if that activity were pursued instead of an alternative activity with a higher return on value or benefit.
• Production possibility chart compares production numbers of one product to another.

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