Answer the question on the basis of the data given in the following production possibilities table. Production Possibilities (Alternatives) A B C D E F Capital Goods 18 16 14 12 10 0 Consumer Goods 0 28 44 54 58 60 Refer to the table. Which of the following combinations of capital goods and consumer goods represents an efficient use of the economy's scarce resources? Multiple Choice 44 units of consumer goods and 12 units of capital goods 38 units of consumer goods and 14 units of capital goods 28 units of consumer goods and 16 units of capital goods 54 units of consumer goods and 14 units of capital goods
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An efficient use of resources means the economy is operating on the production possibilities frontier (PPF), which is represented by the data in the table. Any combination inside the PPF is inefficient, and any combination outside the PPF is unattainable. Show more…
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Exhibit 2-3 Production possibilities curve data Capital goods 0 10 20 30 40 Consumer goods 200 180 140 80 0 20. According to the data given in Exhibit 2-3, the production of 140 units of consumer goods and 10 units of capital goods: is possible but would be inefficient. may be a result of unemployment. may be a result of unused natural resources. all of the above. none of the above. 21. All points on the production possibilities curve are: A) unattainable. B) fair. C) efficient. D) optimal.
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Use the diagram below, which indicates maximum combinations of good X and good Y that can be produced with available resources, to answer the question. On production possibility curve AC... a) output combinations D and E represent full and efficient use of resources, but A, C and F represent inefficient resource use. b) output combination D represents the most efficient use of resources. c) output combinations A, D, E and C all represent full and efficient resource use. d) output combination A and C represents less efficient resource use than either D or E.
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