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Why is a point below the production possibilities curve less efficient than a point on that curve?
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Where on a production possibilities curve an economy working below its most efficient production levels is shown?
At any point of underutilization/any point inside of the curve
How does a production possibilities curve illustrate how efficient an economy is?
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
What does each point on a production possibilities curve show?
an efficient utilization of resources
If the economy is producing on the production possibilities curve?
At Full Potential
An economy working below its most efficient production levels?
An economy working below its most efficient production levels points inside the production possibilities frontier. This is in the context of a production possibilities curve.
Where on a production possibilities curve an economy working below its most efficient production levels is shown?
At any point of underutilization/any point inside of the curve
How does a production possibilities curve illustrate how efficient an economy is?
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
What does each point on a production possibilities curve show?
an efficient utilization of resources
If the economy is producing on the production possibilities curve?
At Full Potential
What does a point inside a production possibilities curve represent?
A point inside a production possibilities curve represents things that can be produced. However, points inside the curve would be less efficient to produce than those points resting directly on the line.
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
Is the United States on the production possibilities curve?
no
How does production possibilities curve differ from production possibilities frontier?
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
Is the outward curve of the production possibilities curve good or bad?
it really good
Is the production possibilities curve convex to the origin?
yes
