Refer to the information provided in Figure 2.2 below for the economy of Microland to answer the question(s) that follow. Figure 2.2
-Refer to Figure 2.2. Microland is currently operating at Point B. You correctly deduce that
A) in Microland, all resources are fully employed and there are no production inefficiencies.
B) Microland has achieved a position of inefficiency.
C) Microland has recently experienced some type of technological breakthrough.
D) Microland has overcome the problem of scarcity.

Question

Refer to the information provided in Figure 2.2 below for the economy of Microland to answer the question(s) that follow.  Figure 2.2
-Refer to Figure 2.2. Microland is currently operating at Point B. You correctly deduce that
A) in Microland, all resources are fully employed and there are no production inefficiencies. 
B) Microland has achieved a position of inefficiency. 
C) Microland has recently experienced some type of technological breakthrough. 
D) Microland has overcome the problem of scarcity.

Quizplus · Accepted Answer

Point B on a production possibilities curve typically indicates that all resources are fully employed and there are no production inefficiencies.

Refer to the Information Provided in Figure 2