b there is no way to produce more of one good without producing less of another good. A PPC is a graphical illustration of all combination of goods and services that can be produced in a given economy at a given time, if all the available resources in the economy are fully and efficiently employed. c it is not possible to produce more of any good at any cost. 30. c. it is possible to produce more of one good without producing less of another good. If an economy is producing a combination of goods that places it inside the production possibilities curve then it has: idle factors of production or inefficient use of resources. If An Economy Is Producing Efficiently, Then O A There Is No Way To Produce More Of One Good Without Producing Less Of Another Good. How to solve: If an economy is being . b it is possible to produce more of both goods without increasing the quantities of inputs that are being used. B. It Is Possible To Produce More Of Both Goods Without Increasing The Quantities Of Inputs That Are Being Used. The reason is that every resource is better suited to producing one good than another. If an economy is producing efficiently, then a. there is no way to produce more of one good without producing less of another good. A market is efficient if the maximum amount of goods and services are being produced with a given level of resources, and if no additional output is possible without increasing the number of inputs. b. it is possible to produce more of both goods without increasing the quantities of inputs that are being used. C - is true in case if economy is producing inside PPC (but it might cost more inputs and/or loss of efficiency). Thus select this one if you mean economic efficiency. O it is possible to produce more of both goods without increasing the quantities of inputs that are being used. it is possible to produce more of one good without producing less of another good. c it is possible to produce more of one good without producing less of another good. An economy operates more efficiently by producing that mix. If an economy is producing efficiently, then a it is possible to produce more of both goods without increasing the quantities of inputs that are being used. Browse All Courses d it is not possible to produce more of any good at any cost. Some land is … In economics, market efficiency refers to a degree to which market prices reflect all available and relevant information. O C. It Is Possible To Produce More Of One Good Without Producing Less Of Another Good. In the graph below, we can see that, at point A, the economy has three options if it begins to produce more efficiently. If an economy is producing efficiently, then ) there is no way to produce more of one good without producing less of another good. A - is true if economy is producing on highest possible potential (economy will be on PPC - not inside of it). Use a graph and comment on the following statement: "If an economy is producing inside its production possibilities frontier, it could possibly produce more of one good without giving up any of the other." Production Possibility Curve is a graphical representation of alternative production possibilities facing an economy. Explore over 4,100 video courses. d it is possible to produce more of one good without producing less of the other. 30 If an economy is producing efficiently, then a there is no way to produce more of one good without producing less of another good. Inputs that are being used economy operates more efficiently by producing that mix market efficiency refers to a to... 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