Asked by Aneri Patel on Jul 03, 2024
Verified
All points on the production possibility frontier are:
A) efficient.
B) inefficient.
C) infeasible.
D) regions of economic growth.
Production Possibility Frontier
An illustration representing the maximum production capabilities for multiple goods with a certain amount of resources.
- Understand the concept of efficient production and the allocation of resources.
Verified Answer
AV
Angel VillegasJul 03, 2024
Final Answer :
A
Explanation :
All points on the production possibility frontier represent the maximum possible output of two goods, given the available resources and technology. Therefore, all points on the PPF are efficient, as they represent the best use of available resources to produce goods.
Learning Objectives
- Understand the concept of efficient production and the allocation of resources.