This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The production possibilities boundary shows possible combinations of guns and butter that can be ... (Read 42 times)

tashina2013

  • Full Member
  • ***
  • Posts: 147
on: Oct 12, 2022

The production possibilities boundary shows possible combinations of guns and butter that can be produced by a country. The lower diagram shows demand and supply for butter.



FIGURE 12-2

Refer to Figure 12-2. Demand and supply for butter are shown by D and S. Suppose the economy is at point (a) on the production possibilities boundary. Is this output of guns and butter allocatively efficient?


◦ Yes, because the marginal cost of producing the butter equals the marginal value of consuming the butter.
◦ No, because the marginal value to consumers of the butter produced is greater than the marginal cost to producers.
◦ Yes, because all points on the production possibilities boundary are allocatively efficient.
◦ No, because the marginal cost to producers of the butter produced is more than the marginal value to consumers.
◦ No, because the marginal costs for guns and butter are not equated.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by tashina2013 on Oct 12, 2022

kaelamcrone

  • Full Member
  • ***
  • Posts: 167
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


tashina2013

  • Member
  • Posts: 147
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

Animal_Goddess

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Results from sequential study of two cohorts tested at three ages and at three different points in t Results from sequential study of two cohorts tested at three ages and at three different points in t
John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
The neural pathway responsible for the production and learning of song in the male canary. The neural pathway responsible for the production and learning of song in the male canary.
ATP Production in Cardiac Muscle ATP Production in Cardiac Muscle
A comparison of sperm production and egg production in humans A comparison of sperm production and egg production in humans
Production of colorless sectors and reversion of the unstable colorless Production of colorless sectors and reversion of the unstable colorless
Video: Deglutition

For a complete list of videos, visit our video library