Question

In Exhibit 2-13, if the economy decides to locate at point E, then: Group of answer choices the economy could not survive because no food is being produced. the maximum number of consumption goods is being produced. the economy has not achieved maximum efficiency. the economy has not achieved full employment. this is the best choice for this economy.

Answer 1

If the economy decides to locate at point E, then the economy could not survive because no food is being produced.

What is the production possibility curve?

The production possibility curve shows the various combination of two goods a company can produce when all its resources are fully utilised.

The production possibility curve is concave to the origin. As more  quantities of a product is produced, the fewer resources it has available to produce another good.

Point outside the production possibility curve not attainable given the level of resources. Points inside the production possibilities curve means that the nations resources are not being fully utilised.

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