Only typed answer (Figure: Determining Production Possibilities 3) According to the graph, the output combination representedby the point can be achieved onlya) by reducing immigration.b) if the unemployment rate were zero.Odby reducing imports.d) if more resources were acquired.

The Production Possibilities Frontier (PPF) is a diagram or a figure that represents all possible…

(Figure: Determining Production Possibilities 3) According to the graph, the output combination represented by the point can be achieved only ૩) by reducing immigration. b) if the unemployment rate were zero. c) by reducing imports, if more resources were acquired.

(Figure: Determining Production Possibilities 3) According to the graph, the output combination represented by the point can be achieved only ૩) by reducing immigration. b) if the unemployment rate were zero. c) by reducing imports, if more resources were acquired.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 9SQP

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Concept explainers

Production Possibility Analysis

The production possibility analysis comprises the production possibility frontier (PPF), or the production possibility curve (PPC) to evaluate a society or even an economy. The production possibility curve represents the cost that the society has to incur for choosing between two different commodities. It is assumed that an economy that operates at the highest production possibility curve is known to have a better standard of living which the society can achieve for producing the optimum level of output which it can produce given a specified number of factors of production or inputs or resources.

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Only typed answer

(Figure: Determining Production Possibilities 3) According to the graph, the output combination represented
by the point can be achieved only
a) by reducing immigration.
b) if the unemployment rate were zero.
Od
by reducing imports.
d) if more resources were acquired.

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