Figure 2-7
-Refer to Figure 2-7.Which point on the graph best represents the fact that,because resources are scarce,not every conceivable outcome is feasible?

Question

Figure 2-7 
-Refer to Figure 2-7.Which point on the graph best represents the fact that,because resources are scarce,not every conceivable outcome is feasible?

Quizplus · Accepted Answer

Point C represents the fact that, because resources are scarce, not every conceivable outcome is feasible. This is because point C is on the production possibilities frontier, which shows the maximum possible output of two goods that can be produced with the given resources. Any point beyond the production possibilities frontier, such as point A, is not feasible because it requires more resources than are available.

Figure 2-7 -Refer to Figure 2-7.Which Point on the Graph Best Represents