A point inside a production possibilities frontier
A) indicates some unused or misallocated resources.
B) is unattainable.
C) is preferred to a point on the production possibilities frontier.
D) indicates a point of production efficiency.
E) illustrates the idea of opportunity cost.
Correct Answer:
Verified
Q1: If Harold can increase production of good
Q1: Opportunity cost of an action is
A)the best
Q2: The concept of opportunity cost
A)cannot be explained
Q5: Production efficiency is achieved when
A)the production possibilities
Q6: Use the figure below to answer the
Q7: Use the figure below to answer the
Q8: Which one of the following concepts is
Q8: If Sam is producing at a point
Q10: A tradeoff exists when
A)we move from a
Q19: Ted chooses to study for his economics
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents