MICROECONOMICS-ACCESS CARD <CUSTOM>
MICROECONOMICS-ACCESS CARD <CUSTOM>
11th Edition
ISBN: 9781266285097
Author: Colander
Publisher: MCG CUSTOM
Question
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Chapter 2, Problem 4QE

(a)

To determine

Trade-off between Peeps and Mike and Ikes.

(b)

To determine

Graphical representation of trade-off in the production possibility curve.

(c)

To determine

Representation of efficient, inefficient, and impossible points.

(d)

To determine

Impact of technology in the production possibility curve.

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The below table shows production points on Sweet-Tooth Land's production possibilities frontier. Which of the following statements is TRUE? B) Producing a combination of 20 chocolate bars and 80 cans of cola is attainable but inefficient. A) Producing a combination of 0 chocolate bars and 100 cans of cola is both attainable and efficient. D) Producing a combination of 40 chocolate bars and 0 cans of cola is unattainable and inefficient. C) Producing a combination of 30 chocolate bars and 38 cans of cola is only attainable with an increase in technology.
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