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Author Question: The production possibilities boundary shows possible combinations of guns and butter that can be ... (Read 80 times)

elarge

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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 (b) on the production possibilities boundary, producing Q1 units of butter. We can say that this economy is ________ efficient because ________.


◦ productively; the marginal cost of production across guns and butter is equated
◦ allocatively; the economy is operating at a point on the production possibilities boundary
◦ productively; the economy is operating at a point inside the production possibilities boundary
◦ allocatively; guns and butter are both produced to the point where the marginal cost to producers equals the marginal value to consumers
◦ allocatively; the price of guns is equal to the price of butter
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by elarge on Oct 12, 2022

Hamad

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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.
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elarge

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

mcarey591

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Reply 3 on: Yesterday
Excellent

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