Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN: 9781337091992
Author: N. Gregory Mankiw
Publisher: Cengage Learning
Question
Chapter 2, Problem 3CQQ
To determine

Efficient and feasible points in the production possibility frontier.

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A point inside the production possibilities frontier isa. efficient but not feasible.b. feasible but not efficient.c. both efficient and feasible.d. neither efficient nor feasible
A production possibilities curve can shift inward if there is a. an increase in productivity b. an increase in unemployment c. an increase in the price of raw materials d. a misallocation of resources e. a natural disaster
ِA- We have studied the production technology. Explain the concept with an example. B- We have studied labor-intensive technology and capital-intensive technology  Explain the difference between the two production processes with an example of each?
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