ECON1101: Principles of Economics (Online Course) 21035 Qutz Quiz- Chapters 1-3

Question

ECON1101: Principles of Economics (Online Course) 21035 Qutz Quiz- Chapters 1-3 This Question: 6 pts 8c The figure shows an economy's production possibilities frontier and identifies some production points We can produce all combinations O A. inside the PPF, on the PPF, and outside the PPF O B. nside the PPF and on the PPF 0 C. on the PPF but not inside or outside the PPF O D. on the PPF and outside the PPF E. inside the PPF but not on the PPF or outside the PPF Which points are attainable? O A. Points A, B, C, D, and E O B. Points D and E only O C. Points A, B, and C only O D. Points F and G only O E. Points A, B, C, F, and G Click to select your answer O Type here to search

Explanation / Answer

1.

Correct Answer:

B

As per the PPF curve, any output combination that is either on the PPF and inside the PPF can be produced. Though, output combination on the PPF curve is considered as efficient, but inside the curve is inefficient.

2.

Correct Answer:

A

A, B, C is on PPF curve, but D and E are inside the PPF curve. So, these combinations can be produced.

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