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in an economy only one combination of goods in productive efficient, is it true? graphically explain the answer.
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- In an economy, only one combination of goods is productive efficient. True or false?In the economy, is there only one efficient combination of goods?Consider a simple economy which produces two goods; pizzas and tractors. Using the production possibilities boundary and graphs for the pizza and tractor market show and explain how the precise allocatively and productively efficient point on the production possibilities boundary can be determined. Please draw a graph to show, not just write step by step.
- According to the article of Jan 18, 2016 "several Canadians are nominated for Oscars" answer the question that if we consider a production possibilities frontier that measures movies and other goods and services. How does the Production possibility frontier illustrate production efficiency? Use the economic concept.An economy will achieve productive efficiency when it ___ and will achieve allocative efficiency when it ___. s producing the combination of goods and services that most benefit the people in the economy; Is maximizing production and could not increase production of both goods at the same time. Is maximizing production and could not increase production of both goods at the same time; is producing the combination of goods and services that most benefit the people in the economy. Is maximizing production and could not increase production of both goods at the same time; is producing an equal amount of both goods. Is producing beyond the production possibility frontier; is producing inside the production possibility frontier.In a production possibilities curve, is a change from inefficiency to economic efficiency obtained by ...?
- What is relationships between general competitive equilibrium, pareto efficiency and equity in an economy ?Explain the difference between productive and allocation efficiency. How do you think a centrally planned economy versus a market economy would perform under each measure of efficiencyBriefly explain how an economy could shift production from an inefficient point of production (such as point E in the picture above) to an efficient point of production (such as point C).
- Briefly explain how the economy pictured above could shift production from point E (an inefficient point of production) to point C (an efficient point of production) ?Which of the points are feasible and which are efficient?In the graph above, if the economy is at point C, it follows that A. C is an unattainable point. B. more robots and corn can be produced with available resources. C. only more corn can be produced with available resources. D. only more robots can be produced with available resources.
