All Points on the PPF Are Points of ________ Efficiency

question 22

Multiple Choice

All points on the PPF are points of ________ efficiency.When we produce at the point on the PPF that we prefer above all other points we achieve ________ efficiency.

• A)production;allocative
• B)allocative;allocative
• C)allocative;production
• D)unattainable;attainable
• E)productive;prominent

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Definitions:

Y-intercept

The point where a graph intersects the y-axis, representing the value of the dependent variable when all independent variables are zero.

X-intercept

The point where a curve intersects the x-axis on a graph, indicating where the function has a value of zero.

Y-intercept

The point where a line or curve intersects the y-axis of a graph.

Absolute Value

The distance of a number from zero on the number line, without considering which direction from zero the number lies.