The Production Possibility Frontier
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This paper explores whether a nation's production possibilities frontier could ever shift inward. The paper discusses whatever might cause such a shift to occur.
From the Paper:"When does the production possibilities frontier shift inward? The production possibilities curve is a measurement of the maximum output a country can produce if all resources are utilized, and an idealization of efficiency. Producing outside the frontier of the curve is not possible, and producing inside the curve results in poor use of resources. Most countries strive to push the frontier outward, developing resources and technologies that increase development. There are cases, however, when the frontier actually moves inward. One reason for the frontier to shift inward is government regulation, as described in Musgrave and Kacapyr (2001, p. 15). For varying reasons such..."
Cite this Term Paper:
The Production Possibility Frontier (2009, December 01) Retrieved May 31, 2020, from https://www.academon.com/term-paper/the-production-possibility-frontier-142593/
"The Production Possibility Frontier" 01 December 2009. Web. 31 May. 2020. <https://www.academon.com/term-paper/the-production-possibility-frontier-142593/>