The above table shows production combinations on a country's production possibilities frontier. Which of the following is an example of a production point that is inefficient? OA. 10 units of good X and 16 units of good Y OB. 3 units of good X and 35 units of good Y OC. 0 units of good X and 40 units of good Y OD. 6 units of good X and 28 units of good Y

The above table shows production combinations on a country's production possibilities frontier. Which of the following is an example of a production point that is inefficient? OA. 10 units of good X and 16 units of good Y OB. 3 units of good X and 35 units of good Y OC. 0 units of good X and 40 units of good Y OD. 6 units of good X and 28 units of good Y

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 3CQQ

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Concept explainers

Opportunity Cost Analysis

Opportunity cost refers to the loss of potential benefits when choosing one alternative over another. It is the tradeoff a person makes, or the potential gains they miss out on, because of their choice. To analyze opportunity cost, we must consider the benefits and tradeoffs of each available option.

Question

Point
A
B
C
D
E
Production of X Production of Y
0
40
3
36
6
28
9
16
12
0
The above table shows production combinations on a country's production possibilities frontier. Which of the following is an example of a production point that is inefficient?
OA. 10 units of good X and 16 units of good Y
OB. 3 units of good X and 35 units of good Y
OC. 0 units of good X and 40 units of good Y
O D. 6 units of good X and 28 units of good Y

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