Production Possibility Frontier: Concept, Graph, And Shifts

What is Production Possibility Frontier?(a) Using the given data, below diagram shows the production possibility frontier for two commodities – Cars and Bicycle in Newland.  X-axis shows production of cars while Y-axis shows production of bicycle. This curve shows the best combination of these goods which can be produced by the country in the most optimum manner (Mankiw,2007). 
 Production possibility curve is the graph w…