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Loraine Loraine
wrote...
Posts: 4563
8 years ago
"If Mexico is currently operating at a point inside its production possibilities frontier, then there are unemployed or misallocated resources in Mexico." Is this statement true or false? Briefly explain your answer.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 1329 times
2 Replies
Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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Replies
wrote...
8 years ago
 The statement is true. Points within the production possibilities frontier are attainable, so it is possible for Mexico to be producing at a point within its frontier. At points within the production possibilities frontier, there are unemployed or misallocated resources.
wrote...
8 years ago
Another success story!

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