A point outside a production possibilities curve indicates
A) that resources are not being used efficiently.
B) that resources are being used very efficiently.
C) opportunity costs are constant.
D) an output combination that is unobtainable with the current resource and technology levels.
D
Economics
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Suppose a manager of a company is told by his staff that marginal productivity has risen above the average productivity over the last six months of operation
What can this manager conclude is happening to the overall average productivity of the company? Explain.
Economics
Any event that changes any of the determinants of YN will shift the LRAS.
a. true b. false
Economics