Refer to the following graph to answer the next question. In the graph, Point C is a(n) _________ point.

Question

BlackTom AI · Accepted Answer

Let's break down the scenario described by the graph and evaluate what each label would mean for Point C.
Option a: efficient. If Point C lies on the production possibility frontier (the line connecting B to D), then it uses available resources to generate the maximum possible output combinations given technology. Points on the frontier are considered efficient because you cannot increase one good without decreasing the other.
Option b: impossible. This would be true only if Point C were outside the frontier, i.e., beyond the attainable production set with current resources and technology. However, the diagram shows C on the frontier, not beyond it, so C is feasible.
Option c: inefficient. A point is inefficient if it lies inside the frontier (below the line), where some resources are underutilized and more of both goods could be produced. Since C sits on the line, this critique does not apply to it.
Option d: equilibrium. In this context, equilibrium would refer to a balance or a specific allocation where forces are in a certain state, but the standard interpretation on a PPF graph is that points on the frontier are efficient, not a general notion of equilibrium. Therefore this label does not correctly describe Point C.
In summary, given that Point C sits on the production frontier, the correct interpretation is that Point C is efficient, while the other options describe states that do not match C's placement on the graph.

THC - MCD2020 - T3 - 2025 Homework Quiz 1 - Foundations of Economics and Gains from Trade

Refer to the following graph to answer the next question. In the graph, Point C is a(n) _________ point.

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