Points outside the production possibility frontier are

Related MCQs

• Several combination of commodities x and y that the economy can produce by fully utilizing all of the fixed amounts of labour and capital with the best technology available is depicted by I. production possibility frontier II. transformation curve III. production possibility curve
• Points on the utility possibility frontier are
• Points where the slopes of the isoquants are equal
• The M RTS L,K between any two inputs be equal in the production of all commodities. 3. The MRPTx,y be equal to the MRSx,y for any two goods.
• The slope of the production possibilities curve is the
• A negative production externality means: