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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