Which one of the following concepts is not illustrated by a production possibilities frontier?
A)scarcity
B)marginal benefit
C)opportunity cost
D)attainable and unattainable points
E)the tradeoff between producing one good versus another

Question

Quizplus · Accepted Answer

A production possibilities frontier illustrates the concept of scarcity, opportunity cost, attainable and unattainable points, and the tradeoff between producing one good versus another. However, it does not illustrate the concept of marginal benefit, which is the additional benefit gained from consuming one additional unit of a good or service.

Which One of the Following Concepts Is Not Illustrated by a Production