All points on the production possibilities frontier are production inefficient.
ID: 1152113 • Letter: A
Question
All points on the production possibilities frontier
are production inefficient.
achieve allocative efficiency.
are production efficient but only one point achieves allocative efficiency.
are allocatively efficient but only one point achieves production efficiency.
are allocatively inefficient.
a.are production inefficient.
b.achieve allocative efficiency.
c.are production efficient but only one point achieves allocative efficiency.
d.are allocatively efficient but only one point achieves production efficiency.
e.are allocatively inefficient.
Explanation / Answer
Answer
Option c. Are production efficient but only one point achieves allocative efficiency.
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