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 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
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter2: Thinking Like An Economist
Section: Chapter Questions
Problem 3CQQ
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A point inside the production possibilities frontier is
a. efficient but not feasible.
b. feasible but not efficient.
c. both efficient and feasible.
d. neither efficient nor feasible
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