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 68 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
Excellent

mochi09

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

The accessory organs of the digestive system: the liver, gallbladder, and pancreas. Image shows the The accessory organs of the digestive system: the liver, gallbladder, and pancreas. Image shows the
Reconstructed Australopithecus afarensis spine shows that species walked upright. Reconstructed Australopithecus afarensis spine shows that species walked upright.
Treatment of Depression with Ketamine The graph shows the effects of ketamine on symptoms of depress Treatment of Depression with Ketamine The graph shows the effects of ketamine on symptoms of depress
The graph shows the effect of sonic tuning of the intake manifold runners. The longer runners ... The graph shows the effect of sonic tuning of the intake manifold runners. The longer runners ...
This battery shows a large “1000” on the front panel but this is the CA rating and not the ... This battery shows a large “1000” on the front panel but this is the CA rating and not the ...
Divergent Plate Boundary Divergent Plate Boundary
Video: What are the Parts of a Plant Cell?

For a complete list of videos, visit our video library