Exhibit 3-8
Refer to Exhibit 3-8.At Point A in the production possibilities graph shown,the economy:
A) is not using its resources efficiently.
B) is using its resources efficiently while producing clothing but no food.
C) is using its resources efficiently while producing food but no clothing.
D) is using its resources efficiently to produce both food and clothing.
Correct Answer:
Verified
Q82: Which of the following concepts are illustrated
Q91: The concavity (bowed-out shape) of the production
Q93: An inefficient use of resources can be
Q94: An economist defines efficiency as:
A)the maximization of
Q94: Exhibit 3-9 Q95: Excessive unemployment of resources is illustrated using Q96: If the production possibilities curve is a 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![]()