An efficient point of production is
A) a point on the production possibilities curve.
B) a point inside the production possibilities curve.
C) the point where scarcity no longer exists.
D) the point where we are currently producing.

Question

Quizplus · Accepted Answer

An efficient point of production is one that is on the production possibilities curve, which represents the maximum output combination of two goods that can be produced with the given resources and technology. At a point inside the curve, resources are not fully utilized, while at a point outside the curve, production is not technically feasible. Therefore, a point on the curve reflects the most efficient use of resources to produce goods.

An Efficient Point of Production Is