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Home Q & A Board Other Fields Homework Help Business Economics
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Loraine Loraine
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8 years ago
Suppose that an economy is currently producing at a point that lies inside of its production possibilities set. Which of the following would best explain this circumstance?
A) The economy does not have enough resources to produce at a point closer to the frontier of the production possibilities set.
B) The prevailing level of technology prevents the economy from producing at a point closer to the frontier of the production possibilities set.
C) The economy is experiencing a high level of unemployment.
D) Any of the above statements could explain this situation.
E) None of the above statements could explain this situation.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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Chimelo46Chimelo46
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8 years ago
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8 years ago
The textbook reference in your signature really helped me narrow it down.

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