Answered

Westonci.ca makes finding answers easy, with a community of experts ready to provide you with the information you seek. Get quick and reliable solutions to your questions from a community of experienced professionals on our platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

Production is efficient if the economy is producing at a point
Oon the production possibilities frontier.
O outside the production possibilities frontier.
Oon or inside the production possibilities frontier.
O inside the production possibilities frontier.

Sagot :

Production is efficient when the economy is producing at a point on the production possibilities frontier. Hence, Option 1. is the correct statement.

What is the production possibilities frontier?

A production possibilities frontier, or PPF, defines the set of feasible mixtures of products and offerings a society can produce given the sources available. Choices outside the PPF are unattainable and alternatives within the PPF are inefficient.

Therefore, Production is efficient when the economy is producing at a point on the production possibilities frontier. Option 1. is the correct statement.

Learn more about production possibilities frontier here:

https://brainly.com/question/25071524

#SPJ1

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.