look at the graph and fill in the corresponding points. (questions 1 - 5)\nproduction possibilities…

look at the graph and fill in the corresponding points. (questions 1 - 5)\nproduction possibilities frontier\n\ncarrots\n\ncorn\n\n1. point(s) ___ describes resources are not being used efficiently (underutilization)\n2. point (s) ___ describes the production of more corn than carrots\n3. point (s) ___ describes the production of more carrots than corn\n4. point(s) ___ describes resources being unobtainable based on current resources\n5. point(s) ___ describes a curve, meaning that its resources are all available and being maximized to their full potential (maximum possible output)

look at the graph and fill in the corresponding points. (questions 1 - 5)\nproduction possibilities frontier\n\ncarrots\n\ncorn\n\n1. point(s) ___ describes resources are not being used efficiently (underutilization)\n2. point (s) ___ describes the production of more corn than carrots\n3. point (s) ___ describes the production of more carrots than corn\n4. point(s) ___ describes resources being unobtainable based on current resources\n5. point(s) ___ describes a curve, meaning that its resources are all available and being maximized to their full potential (maximum possible output)

Answer

Brief Explanations:

  1. Points inside the production - possibilities frontier represent underutilization of resources as more of both goods (carrots and corn) could be produced with the available resources. Point A is inside the curve, so it shows underutilization.
  2. Points on the right - hand side of the curve where the quantity of corn is higher than that of carrots represent more corn production. Point C has more corn than carrots.
  3. Points on the upper - hand side of the curve where the quantity of carrots is higher than that of corn represent more carrot production. Point B has more carrots than corn.
  4. Points outside the production - possibilities frontier represent unattainable combinations given the current resources and technology. Point X is outside the curve, so resources are unattainable at this point.
  5. Points on the production - possibilities frontier represent efficient use of resources where all resources are fully utilized and maximum possible output is achieved. Points B, D, and C are on the curve.

Answer:

  1. A
  2. C
  3. B
  4. X
  5. B, D, C