A professor spends 10 hours per day giving lectures and writing papers.For the professor,a graph that shows his various possible mixes of output (lectures given per day and papers written per day)is called his
A)line of tastes.
B)trade-off curve.
C)production possibilities frontier.
D)consumption possibilities frontier.

Question

Quizplus · Accepted Answer

The graph that shows the various possible mixes of output for the professor is called his production possibilities frontier (PPF). This is because it represents the maximum amount of lectures and papers that he can produce given his limited time and resources (i.e. 10 hours per day). The PPF illustrates the trade-offs the professor must make between producing lectures and papers, as increasing the production of one requires sacrificing some of the production of the other. Thus, the professor must choose the combination of lectures and papers that he can produce most efficiently and effectively, as shown by the points on the PPF.

A Professor Spends 10 Hours Per Day Giving Lectures and Writing