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Author Question: If, in a given economy, production is taking place at a point inside the production possibility ... (Read 114 times)

D2AR0N

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on: Jul 1, 2018
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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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

e


D2AR0N

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

sarah_brady415

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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