Figure 2-23
-Refer to Figure 2-23. Point B represents an inefficient outcome for this economy.

Name: Figure 2-23 -Refer to Figure 2-23. Point B represents an inefficient outcome for this economy.
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Question

Figure 2-23 
-Refer to Figure 2-23. Point B represents an inefficient outcome for this economy.

Quizplus · Accepted Answer

Point B represents a combination of goods and services that is not utilizing available resources efficiently. It is located inside the production possibilities frontier, indicating that there are still unused resources that could be used to produce more of both goods.

Figure 2-23 -Refer to Figure 2-23. Point B Represents an Inefficient Outcome