Which of the following is the most accurate statement about production possibilities? Question 10Answer a. An economy can produce at any point inside the production possibilities frontier, but not on or outside the frontier. b. An economy can produce at any point on or inside the production possibilities frontier, but not outside the frontier c. An economy can produce at any point inside or outside a production possibilities frontier. d. An economy can produce only on the production possibilities frontier.
Which of the following is the most accurate statement about production possibilities? Question 10Answer a. An economy can produce at any point inside the production possibilities frontier, but not on or outside the frontier. b. An economy can produce at any point on or inside the production possibilities frontier, but not outside the frontier c. An economy can produce at any point inside or outside a production possibilities frontier. d. An economy can produce only on the production possibilities frontier.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Which of the following is the most accurate statement about production possibilities?
Question 10Answer
a.
An economy can produce at any point inside the production possibilities frontier, but not on or outside the frontier.
b.
An economy can produce at any point on or inside the production possibilities frontier, but not outside the frontier
c.
An economy can produce at any point inside or outside a production possibilities frontier.
d.
An economy can produce only on the production possibilities frontier.
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