Multiple Choice
When an economy is operating efficiently, the production of one more unit of a good will result in some loss of production of another good because
A) technology can improve the production of only one good.
B) the production possibilities frontier (PPF) shifts inward as more of only one good is produced.
C) resources are limited, and efficiency implies that all resources are already in use.
D) consumers will not want more of both goods.
Correct Answer:
Verified
Correct Answer:
Verified
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