The production combinations that fall directly on the production possibilities frontier (curve) are and efficient. (Use one word to fill in the blank.)
Question
Solution 1
The production combinations that fall directly on the production possibilities frontier (curve) are efficient.
This means that when an economy or producer operates on the production possibilities frontier, they are utilizing all available resources in the most efficient manner, without any was Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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When production is characterized by opportunity costs, the resulting production possibilities frontier will be a straight line.
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The production possibilities frontier (PPF) shows how much of two goods an economy can produce when it is using all available as efficiently as possible.
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Which of the following will be accomplished by efficient allocations of the factors of production?
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