When an Economy Is Operating Efficiently, the Production of One

question 338

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.

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