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 70 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

sailorcrescent

  • Member
  • Posts: 334
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Block Diagram of a Dual-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid Seme Block Diagram of a Dual-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid Seme
The posted octane rating in most high-altitude areas shows regular at 85 instead of the usual 87. The posted octane rating in most high-altitude areas shows regular at 85 instead of the usual 87.
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) ...
Hubbard’s Predication of Peak in U.S Oil Production with Actual Data Hubbard’s Predication of Peak in U.S Oil Production with Actual Data
Major U.S. Centers of Cattle, Corn, Wheat, and Soybean Production Major U.S. Centers of Cattle, Corn, Wheat, and Soybean Production
Complete the following production chart and plot the points. Complete the following production chart and plot the points.
Video: Central Nervous System Animation

For a complete list of videos, visit our video library