The following figure shows the production possibilities frontier for Good A and Good B. In the figure below, point f represents:
Figure 2.2
A) an efficient combination of Good A and Good B.
B) the only efficient combination of Good A and Good B.
C) the combination of Good A and Good B that the economy will produce.
D) an inefficient combination of Good A and Good B.
E) the only inefficient combination of Good A and Good B.
Correct Answer:
Verified
Q49: The specialization of labor:
A)increases productivity without creating
Q51: The division of labor increases productivity because:
A)tasks
Q68: Points inside the production possibilities frontier represent:
A)full
Q82: As resources are not perfectly adaptable to
Q101: The figure below shows the production possibilities
Q101: If all resources are used efficiently to
Q104: The figure below shows the production possibilities
Q105: The following figure shows the production possibilities
Q106: The figure given below shows the production
Q122: Points outside the production possibilities frontier represent
A)unemployment
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