When production is efficient, .
A) we can satisfy our all wants
B) the opportunity cost is as low as possible
C) our choice of the goods can be either on or within the production possibilities frontier
D) we face a tradeoff and incur an opportunity cost

Question

Quizplus · Accepted Answer

When production is efficient, resources are fully utilized, and producing more of one good requires sacrificing some of another, indicating a tradeoff and incurring an opportunity cost.

When Production Is Efficient,