LISBN 9781337622042 EDT Figure 217 4600 4000 2500 1500 1000

LISBN 9781337622042 EDT Figure 2-17 4600 4000 2500 1500 1000 100 200 300 400 500 600 700 800 900 1000 Refer to Figure 2-17. It is possible for this economy to produce 1000 shoes True

Solution

True.

Explanation:

Production possibility curve suggests the various combination of goods that can be produced with the given level of factor of production.

This curve suggest that the 1000 quantities of shoes can be produced with the 800 quantities of T-shirts (approx).