A point outside a production possibilities frontier indicates
A) that resources are being used very efficiently.
B) an output combination that society cannot attain given its current level of resources and technology.
C) that both goods are characterized by increasing costs.
D) that resources are not being used efficiently.
Correct Answer:
Verified
Q11: The production possibilities frontier
A) depicts the boundary
Q12: The production possibilities frontier
A) refers to the
Q13: The production possibilities frontier itself shows
A) the
Q14: The production possibilities frontier is the boundary
Q15: Any production point outside the production possibilities
Q17: When production is efficient, .
A) we can
Q18: Which of the following is NOT true
Q19: A production possibilities frontier illustrates the maximum
Q20: The production possibilities frontier is
A) downward sloping
Q21: On the vertical axis, the production possibilities
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