The locus of the various physically attainable utility combinations of two persons when the factor endowments, state of technology and preference orders of the individuals are given.
A)grand utility possibility frontier
B)Maximum utility frontier
C)Pareto Optimality frontier
D)Hicks Utility Frontier

Question

Quizplus · Accepted Answer

The grand utility possibility frontier represents the locus of various physically attainable utility combinations of two persons, given their factor endowments, state of technology, and preference orders. It illustrates the maximum utility levels that can be achieved for each person, given the constraints.

The Locus of the Various Physically Attainable Utility Combinations of Two