the graph above, a movement from point D to Point B is A. a movement from an efficient point to an inefficient point. B. a movement from an efficient point to another efficient point. C. a movement from an inefficient point to another inefficient point. D. impossible, since the economy could never have been at point D in the first place.
the graph above, a movement from point D to Point B is A. a movement from an efficient point to an inefficient point. B. a movement from an efficient point to another efficient point. C. a movement from an inefficient point to another inefficient point. D. impossible, since the economy could never have been at point D in the first place.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 24RQ: What is a production technology?
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Question
In the graph above, a movement from point D to Point B is
A. a movement from an efficient point to an inefficient point.
B. a movement from an efficient point to another efficient point.
C. a movement from an inefficient point to another inefficient point.
D. impossible, since the economy could never have been at point D in the first place.
Expert Solution
Step 1
Production possibilities frontier is a combination of goods efficient and feasible to produce in the economy with the given resources.
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