Inefficiency exists whenever the economy's output combination lies inside its production possibilities curvE.

Name: Inefficiency exists whenever the economy's output combination lies inside its production possibilities curvE.
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Question

Quizplus · Accepted Answer

Whenever the economy's output is inside its production possibilities curve, it means that resources are not being utilized to their full potential, resulting in inefficiency. Therefore, the statement is true.

Inefficiency Exists Whenever the Economy's Output Combination Lies Inside Its