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 35 times)

elarge

  • Full Member
  • ***
  • Posts: 130
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

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

Hamad

  • Full Member
  • ***
  • Posts: 163
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


elarge

  • Member
  • Posts: 130
Reply 2 on: Oct 12, 2022
Excellent

matt95

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Herbivore biomass is positively correlated with net aboveground primary production. Herbivore biomass is positively correlated with net aboveground primary production.
The heme group viewed from the side. This view shows the two coordination bonds to Fe2+ The heme group viewed from the side. This view shows the two coordination bonds to Fe2+
This lithograph of the New York draft riots, 1863, shows that although the rioters mainly targeted b This lithograph of the New York draft riots, 1863, shows that although the rioters mainly targeted b
Pulmonary embolism. The purple shaded section shows the area of the lung that is dying from lack of ... Pulmonary embolism. The purple shaded section shows the area of the lung that is dying from lack of ...
Drawing shows what is occurring electrically at each part of the scope pattern. Drawing shows what is occurring electrically at each part of the scope pattern.
Mechanism of action of anti-parkinson drugs. (a) Levodopa therapy increases dopamine production; (b) ... Mechanism of action of anti-parkinson drugs. (a) Levodopa therapy increases dopamine production; (b) ...
Video: Carbohydrate digestion - mouth and stomach & pancreas and small intestine

For a complete list of videos, visit our video library