Lesson Note 5.5: Methods for Estimating Project Times and Costs, 5 pts. This section in the textbook introduces a number of techniques. Do not focus on the details of each technique. Learn the terms and focus on understanding that a number of techniques fit the top-down category of estimating.
A productionâpossibility frontier (PPF) or production possibility curve (PPC) is the possible tradeoff of producing combinations of goods with constant technology and resources per unit time.
Quick Answer. A bowed production possibility curve occurs when the opportunity cost of a good increases as more of the item is produced. The production possibility frontier (PPF) or production possibility curve occurs when the economy is the most efficient at producing goods and services and allocating resources in the best way possible. Continue Reading