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.
Correct Answer:

Verified
Correct Answer:
Verified
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Q30: A marginal benefit curve measures<br>A)comparative advantage.<br>B)willingness to
Q31: A tradeoff exists when<br>A)we move from a
Q32: The production possibilities frontier is<br>A)upward sloping and
Q33: Markets I.enable buyers and sellers to get
Q35: Use the information below to answer the
Q36: Production efficiency is achieved when<br>A)the production possibilities
Q37: Use the figure below to answer the
Q38: On a graph of a production possibilities
Q39: Use the figure below to answer the