Asked by Jessica Slate on Jun 22, 2024
Verified
Refer to Figure 2-10. Given the technology available for manufacturing doghouses and dishwashers, this economy does not have enough of the factors of production to support the level of output represented by point C.
Factors Of Production
The resources used in the production process, including land, labor, capital, and entrepreneurship.
Available Technology
The current state of technological advances and machinery available to businesses for production purposes.
- Acquire an understanding of the production possibilities frontier and its significance.
- Investigate the outcomes that are efficient, achievable, and unachievable in relation to the production possibilities frontier.
Verified Answer
HD
Haley DakotaJun 27, 2024
Final Answer :
True
Explanation :
Point C, being outside the production possibility frontier (PPF), represents a level of output that is unattainable with the current resources and technology, indicating the economy does not have enough factors of production to achieve this level.
Learning Objectives
- Acquire an understanding of the production possibilities frontier and its significance.
- Investigate the outcomes that are efficient, achievable, and unachievable in relation to the production possibilities frontier.