Answered: Which of the following points is not…

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Which of the following points is not attainable under current situation? Good Y A OB О с O D Ο Ε D B E D LL Good X

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 2SCQ: Why do economists use the ceteris paribus assumption?

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Question

Which of the following points is not attainable under current situation?
Good Y
OB
O D
Ο Ε
A
B
E
D
Good X

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Step 1: Define PPF

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Step 3: Explain why other option are incorrect

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Figure 1 The production possibility frontier ABCDE is a production possibility frontier. It shows the different combinations of goods which can be produced if all resources are fully and efficiently utilised. The economy can produce at any point on the line. It cannot produce at G because the PPF shows the maximum that can be produced. It can produce within the PPF,05 such as at F, but less will be produced than the maximum possible. Non-manufactured goods 50 40 30 20 10 0 A 10 B Ti C 20 30 Manufactured goods G D E 40
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