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Suppose the fictional country of Biscayne produces only two goods: rice and telephoto lenses. The following graph plots Biscayne's current production possibilities frontier, and includes
Suppose the fictional country of Biscayne produces only two goods: rice and telephoto lenses. The following graph plots Biscayne's current production possibilities frontier, and includes six different output combinations given by black points (plus symbols) labeled A to F. The graph shows a production possibilities frontier (P P F) for a fictional country. Rice in millions of bushels is on the horizontal axis and telephoto lenses in millions is on the vertical axis. Both axes range from zero to 100 in increments of 20. A bowed out P P F has vertical and horizontal intercepts of 60. Points C and B lie on the P P F. Points A and F lie inside the P P F. Points E and D lie outside the P P F. 0 20 40 60 80 100 100 80 60 40 20 0 TELEPHOTO LENSES (Millions) RICE (Millions of bushels) PPF A F E D C B Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, or unattainable. Check all that apply. Point Inefficient Efficient Unattainable A B C D E F
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