Which of the following is correct about the production possibilities curve? An economy can produce only on the production possibilities frontier line given its current available resources and technology. An economy can produce at any point inside or outside the production possibilities frontier given its current available resources and technology. O An economy can produce at any point inside the production possibilities frontier, but not on the frontier without discovery of new resources or technology or real economic growth. An economy can produce at any point on or inside the production possibilities frontier, but not outside the frontier without discovery of new resources or technology or real economic growth. O An economy can produce at any point on or inside the production possibilities frontier, but government price controls are needed for economy to produce beyond the frontier line.

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Which of the following is correct about the production possibilities curve?
An economy can produce only on the production possibilities frontier line given its current available
resources and technology.
O An economy can produce at any point inside or outside the production possibilities frontier given its current
available resources and technology.
O An economy can produce at any point inside the production possibilities frontier, but not on the frontier
without discovery of new resources or technology or real economic growth.
O An economy can produce at any point on or inside the production possibilities frontier, but not outside the
frontier without discovery of new resources or technology or real economic growth.
O An economy can produce at any point on or inside the production possibilities frontier, but government
price controls are needed for economy to produce beyond the frontier line.
Transcribed Image Text:Which of the following is correct about the production possibilities curve? An economy can produce only on the production possibilities frontier line given its current available resources and technology. O An economy can produce at any point inside or outside the production possibilities frontier given its current available resources and technology. O An economy can produce at any point inside the production possibilities frontier, but not on the frontier without discovery of new resources or technology or real economic growth. O An economy can produce at any point on or inside the production possibilities frontier, but not outside the frontier without discovery of new resources or technology or real economic growth. O An economy can produce at any point on or inside the production possibilities frontier, but government price controls are needed for economy to produce beyond the frontier line.
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