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Author Question: The production possibilities boundary shows possible combinations of guns and butter that can be ... (Read 59 times)

tashina2013

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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 (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
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Marked as best answer by tashina2013 on Oct 12, 2022

kaelamcrone

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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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tashina2013

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Reply 2 on: Oct 12, 2022
Excellent

nathang24

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

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