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The ________ production points on a production possibility curve are the points along and inside the production possibility frontier.
C) productively efficient
D) allocatively efficient
the attainable production points on a production possibility curve are the points along and inside the production possibilty frontier. a production possibility frontier is the combination of two commodities that can be produced with the utilisation of given resources. the points on the production possibility frontier shows the resources are fully and efficiently utilized and the points within it shows they are under utilized.
The ________ production points on a production possibility curve are the points along and inside the...
6. A point that is located inside the production possibility curve is: Efficient b. Unattainable Equally efficient as all other points d. inefficient C
Question 3 Points inside the Production Possibilities Frontier are attainable O associated with some unemployment. both attainable and unattainable. unattainable.
efficiency in the production possibilities model suppose the Netherlands produces only two goods: alfalfa & computers. The following graph shows the Netherlands current production possibilities frontier, along with 6 output combinations represented by black points labeled A to F. Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, attainable, or unattainable. Check all that apply Attempts: Score: /1 3. Efficiency in the production possibilitles model Suppose the Netherlands produces only two goods: alfalfa...
Suppose the United States produces only two goods: wheat and computers. The following graph shows the United States’s current production possibilities frontier (also known as the production possibilities curve), along with six output combinations represented by black points (+ symbols) labeled A to F. 100 T PPF ー 60 0. 40 20 0 20 40 60 80 100 WHEAT (Millions of bushels) Complete the following table by indicating whether each point represents output combinations that are productive inefficient, productive efficient,...
17. Match the statement affecting the production possibility curve with its graphical representation: New technology affecting both industries A. inward shift of the curve B. a movement along the curve C. outward shift of the curve D. A rotation of the curve E. Point outside the curve F. point inside the curve 18. Match the statement affecting the production possibility curve with its graphical representation: An increase in consumer spending on one good but no change in consumer's income A....
on a production possibilities curve, an inefficient point is: On a graph of a production possibilities curve, an inefficient point is: not necessarily an attainable point. necessarily an unattainable point. possibly an unattainable point
If an economy is operating inside its production possibilities frontier: A) it is producing efficiently. The economy cannot produce more of one good without simultaneously reducing the output of another good. B) is producing inefficiently. If production was arranged more efficiently the economy can produce more on one good without sacrificing any production of another good. C) it is producing at an unattainable point. You cannot be inside the Production Possibilities Frontier. D) then opportunity cost approaches infinity. No economy...
RPCC Canvas 1. Help for Access College-Forbidd...College-Forbidd.. Link to Course i College-Quiz 1s 1 point Bread Figure 1 Refer to Figure 1. Along the production possibilities frontier, which point is unattainable? O A. Point F O B. Point C OC. Point bE O D. All points on the production possibilities frontier are attainable
3. Suppose an economy has a production possibility frontier characterized by the equation x2+4Y2 100 a. In order to sketch this equation, first compute its intercepts. What is the value b. Calculate three additional points along this production possibility frontier. c. Is the opportunity cost of X in terms of Y constant in this economy, or does it d. How would you calculate the opportunity cost of X in terms of Y in this of Xif Y-0? What is the...
1. Draw the Production Possibilities Frontier for the following table and label all points Person A Possibility Pizza Hamburgers 25 20 15 10 6 10 • What is the opportunity cost of 1 Pizza? What is the opportunity cost of 1 hamburger? Label three inefficient points and 3 unattainable points 2. Draw the Production Possibilities Frontier and label all points: Person B Possibility Hamburgers 10 8 B Piura 5 10 15 20 25 C D What is the opportunity cost...