Please help me get the correct answer of these two questions: question 14;15; in

Question

Please help me get the correct answer of these two questions: question 14;15; in economy class Question 14 0 out of 10 3 Figure 2-9 Panel (a) Panel (b) 65 65 45 45 35 25 25 15 15 05 05 1 23 45 6 ats 1 2 3 4 56doat Refer to Figure 2-9, Panel (a). Production is Selected Answer possible at points J, L, M, and N, but efficient only at points J, L, and M. possible at points J, K, L, and M, but efficient only at points J, L, and M. possible at points J, K, L, and M, but efficient only at point K. possible at points J, L, M, and N, but efficient only at points J, L, and M possible at points J, L, M, and N, but efficient only at point N Answers:

Explanation / Answer

14) Production is possible at J, K, L, M, but efficient is at only J, L, M. This is because the points which are lying on the production possibility curve are considered efficient as resources are optimally utilised at these points. And the point K which lying beneath the curve is inefficient whereas point N which lying outside the curve is beyond the reach of the economy as the resources are not enough to produce at that point.

15) Shift may be because of improvement in donut production technology as the capacity of producing donut with all the given resources has increased from 4 to 6 while the production of coffee has remained same.

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