Figure 2.7 Alt text for Figure 2.7: In figure 2.7, a graph compares production possibility frontiers of S U Vs and Roadsters.
Long description for Figure 2.7: The x-axis is labelled, S U Vs, and the y-axis is labelled, Roadsters.A convex curve begins near the top of the y-axis and ends approximately 3 quarters of the way down the x-axis.The point B is plotted midway along the curve.Point A is plotted between the curve and the y-axis.Point C is plotted outside the curve, near the top of the y-axis and approximately midway along the x-axis.
-Refer to Figure 2.7. ________ is (are)inefficient in that not all resources are being used.
A)Point A
B)Point B
C)Point C
D)Points A and C

Question

Figure 2.7  Alt text for Figure 2.7: In figure 2.7, a graph compares production possibility frontiers of S U Vs and Roadsters.
Long description for Figure 2.7: The x-axis is labelled, S U Vs, and the y-axis is labelled, Roadsters.A convex curve begins near the top of the y-axis and ends approximately 3 quarters of the way down the x-axis.The point B is plotted midway along the curve.Point A is plotted between the curve and the y-axis.Point C is plotted outside the curve, near the top of the y-axis and approximately midway along the x-axis.
-Refer to Figure 2.7. ________ is (are)inefficient in that not all resources are being used.
A)Point A 
B)Point B 
C)Point C 
D)Points A and C

Quizplus · Accepted Answer

Point A is below the production possibility frontier curve, indicating that not all resources are being used efficiently. This point represents a situation where there are unused resources, such as labor or capital, that could be used to produce more goods. Points B and C are on the production possibility frontier curve and represent efficient use of resources. Therefore, the best choice is A) Point A.

Figure 27 Alt Text for Figure 2