Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 2 - Part I - Thinking Like an Economist - Quick Check Multiple Choice: 3

Answer

A point inside the production possibilities frontier is b.) feasible, but not efficient.

Work Step by Step

Points inside the frontier are feasible but not efficient, while points outside the frontier are efficient but not feasible. Points that are ON the frontier line are considered both efficient and feasible.
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