An economy is said to be efficient if It is possible to produce more of all good

Question

An economy is said to be efficient if It is possible to produce more of all goods It is possible to produce more of one good without producing less of another It is not possible to produce more of one good without producing less of another It is not possible to produce more of one good at any cost Which of the following concepts is not illustrated b> the production possibilities frontier ? Efficiency Opportunity cost Equity Tradeoffs Increasing opportunity cost would lead to a production possibilities frontier at is a upward sloping straight line True False Following is a table for production possibilities for Tuncland. Answer Question Nos. 4, and 6 based on this table What is the opportunity cost to Tuneland of increasing the production of cars from 30 to 40 ? 200 toys: 250 toys: 450 toys and; None of these Based on the table showing the production possibilities for Tuncland. what is the most accurate statement about the opportunity cost of production of an additional 10 cars in Yuncland?

Explanation / Answer

1. Option c is correct

It is not possible to produce more of a one good without producing less of other.

2. Option c is correct

Equity

3. False

4. Option a is correct

200 toys

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