According to the article of Jan 18, 2016 "several Canadians are nominated for Oscars" draw a production possibilities frontier with movies on the x-axis and other goods and services on the y-axis to illustrate increasing opportunity cost.
According to the article of Jan 18, 2016 "several Canadians are nominated for Oscars" draw a production possibilities frontier with movies on the x-axis and other goods and services on the y-axis to illustrate increasing
Trade off basically involves the concept of opportunity cost. If we increase quantity of one good then quantity of other good must have to decrease. Trade off between movies and other goods and services involves that when quantity of movies increases then quantities of other goods must have to decrease and vice versa.
PPF describes the combination of goods produced or consumed. To be on the same PPF, if quantity of one good is increased then quantity of other good must have to be decrease. This is best illustrated by the diagram.
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