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Author Question: If, in a given economy, production is taking place at a point inside the production possibility ... (Read 82 times)

D2AR0N

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If, in a given economy, production is taking place at a point inside the production possibility frontier:
 a. resource allocation is technically and allocatively efficient.
  b. resource allocation is technically efficient but allocatively inefficient.
  c. resource allocation is technically inefficient and allocatively efficient.
  d. resource allocation is technically and allocatively inefficient.

Question 2

Which of the following public policies has (have) the effect of restricting competition?
 a. licensing
  b. patents
  c. import quotas
  d. a and b only
  e. a, b, and c



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mk6555

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Answer to Question 1

d

Answer to Question 2

e




D2AR0N

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review


Jossy

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Reply 3 on: Yesterday
Excellent

 

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