ON A PRODUCTION POSSIBILITIES CURVE, THE OPTIMAL OR BEST COMBINATI...

71. On a production possibilities curve, the optimal or best combination of output for any society:is at a point near the top of the curve.is at the precise midpoint of the curve.is at a point near the bottom of the curve.→ depends upon the preferences of society. AACSB: AnalyticBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-05 Apply production possibilities analysis; increasing opportunity costs; and economic growth.Topic: Production possibilities modelMultiple Choice Question