Figure 14-2

-As we move down the production possibilities schedule in Figure 14-2, each successive point is
A)less efficient.
B)more efficient.
C)equally efficient.
D)more or less efficient; we cannot tell which.

Question

Figure 14-2
 
-As we move down the production possibilities schedule in Figure 14-2, each successive point is
A)less efficient. 
B)more efficient. 
C)equally efficient. 
D)more or less efficient; we cannot tell which.

Quizplus · Accepted Answer

Each point on a production possibilities schedule represents a combination of goods that can be produced with available resources and technology, assuming all resources are fully and efficiently utilized. Therefore, each point is equally efficient.

Figure 14-2 -As We Move Down the Production Possibilities Schedule in Figure