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Question
Choose the correct alternative from given options:
Shift from Point A on Production Possibility Curve X1Y1 to point B on X2Y2 in the given figure indicates:
Options
Decrease in resources
Increase in resources
Full and efficient utilisation of resources
Wastage of resources
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Solution
Shift from Point A on Production Possibility Curve X1Y1 to point B on X2Y2 in the given figure indicates: Increase in Resources
Hence, the correct answer is Increase in Resources.
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RELATED QUESTIONS
Assuming that no resource is equally efficient in production of all goods, name the curve which shows production potential of the economy. Explain, giving reasons, its properties.
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| Good X (units) | Good Y (units) |
| 0 | 8 |
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| Good X (units) | Good Y (units) |
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