Which of the following assumptions are involved in the theory of Production Possibility Frontier (PPF)?
1. A company/economy wants to produce two products
2. There are limited resources
3. Technology and techniques remain constant
4. All resources are fully and efficiently used
Select the correct answer using the code given below.
1
1, 2 and 3
2
2, 3 and 4
3
1 and 4 only
4
1, 2, 3 and 4
5
Question Not Attempted