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. Full resource employment and production efficiency is represented by a point
A) inside the production possibility frontier.
B) along the production possibility frontier.
C) outside the production possibility frontier.
D) either inside or along the production possibility frontier.

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. Full resource employment and production efficiency is represented by a point
A) inside the production possibility frontier. 
B) along the production possibility frontier. 
C) outside the production possibility frontier. 
D) either inside or along the production possibility frontier.

Quizplus · Accepted Answer

Full resource employment and production efficiency are represented by a point along the production possibility frontier (PPF), as it shows the maximum possible output that can be achieved with the available resources and technology.

Refer to the Information Provided in Figure 2