product Y 28 24 20 16 12 8 4 0 0 4 TOGGuom point A 8 MOVS FrondoT point F (d) All of the above statements are true. O(e) Only statements (a) and (b) are true. 12 05. Which of the following statements about point E is TRUE? O(a) It represents 22 units of X and 24 units of Y 16 point B V point C 20 point E point D 24 product X (b) This combination of goods X and Y is unattainable without additional resources or better technology. O (c) The reason point E is unattainable is because of insufficient demand.

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.6P
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Which of the following statements about point E is TRUE?
product Y
28
24
20
16
N
12
8
4
0
0
4
TUDUVLom
point A
8
mavs
(d) All of the above statements are true.
O(e) Only statements (a) and (b) are true.
point F
12
05. Which of the following statements about point E is TRUE?
O(a) It represents 22 units of X and 24 units of Y
TOMAST
16
point B
V
point C
20
point E
point D
24
product X
(b) This combination of goods X and Y is unattainable without additional resources or better technology.
O (c) The reason point E is unattainable is because of insufficient demand.
Transcribed Image Text:product Y 28 24 20 16 N 12 8 4 0 0 4 TUDUVLom point A 8 mavs (d) All of the above statements are true. O(e) Only statements (a) and (b) are true. point F 12 05. Which of the following statements about point E is TRUE? O(a) It represents 22 units of X and 24 units of Y TOMAST 16 point B V point C 20 point E point D 24 product X (b) This combination of goods X and Y is unattainable without additional resources or better technology. O (c) The reason point E is unattainable is because of insufficient demand.
Expert Solution
Step 1

PPF is the production possibility frontier.  

It is defined as the production possibility of two goods in an economy with the given resources and technology at a given period of time. 

The points are unattainable when it lies beyond the PPF. 

The points are attainable when it lies below or on the PPF. 

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