If production of two goods is currently at levels such that we are inside the production possibilities curve O production is inefficient. O it is not possible to produce more of both goods. O we are in the "unattainable" region. O in order to produce more of one good, we must produce less of the other..

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter1: The Economic Approach
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If production of two goods is currently at levels such that we are inside the production possibilities
curve
O production is inefficient.
O it is not possible to produce more of both goods.
Owe are in the "unattainable" region.
O in order to produce more of one good, we must produce less of the other.
Transcribed Image Text:If production of two goods is currently at levels such that we are inside the production possibilities curve O production is inefficient. O it is not possible to produce more of both goods. Owe are in the "unattainable" region. O in order to produce more of one good, we must produce less of the other.
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