Answered

Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Explore a wealth of knowledge from professionals across different disciplines on our comprehensive platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

If production in the economy is efficient, then changes in market prices:___________

Sagot :

Parrain

Answer: d.Move us along the perimeter of the PPC

Explanation:

The Production Possibilities Curve (PPC) is used to demonstrate the concept of scarcity and trade-offs by showing different combinations of output of two goods give certain resources.

As the goods use the same resources, increasing the output of one good reduces the output of the other. The PPC therefore shows the optimal level of resource utilization. If production is efficient, it will follow this optimal level by moving along the perimeter of the PPC.

Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.