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Figure: Production Possibility Frontier Curve for Tealand
-(Figure: Production Possibility Frontier for Tealand) Look at the figure Production Possibility Frontier for Tealand. If Tealand is producing 10 million scones and 10 million cups of tea (point A), we know that the economy:

Question

Use the following to answer questions:
Figure: Production Possibility Frontier Curve for Tealand 
-(Figure: Production Possibility Frontier for Tealand) Look at the figure Production Possibility Frontier for Tealand. If Tealand is producing 10 million scones and 10 million cups of tea (point A), we know that the economy:

Quizplus · Accepted Answer

Point A, if inside the Production Possibility Frontier, indicates that Tealand is not using its resources efficiently, as it could produce more of one or both goods without sacrificing the production of the other.

Use the Following to Answer Questions