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When Producing at a Point of Production Efficiency

Question 34

Multiple Choice

When producing at a point of production efficiency,


A) the quantity of goods produced can be either on or inside the production possibilities frontier.
B) all wants are satisfied.
C) the opportunity cost of producing goods other than those measured on the axes of the production possibilities frontier is zero.
D) a tradeoff occurs.
E) resources are either wasted or misallocated.

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