Question

In a competitive market, all of the choices along the production possibility frontier display .efflctency, whrle the spectfic chorce on the frontier that socrety picks us the one With effictency.O Productive; AllocativeO Allocative; ProductiveO Allocatlve; AlocativeO Productive; Productive

Answer 1

Productive; Allocative

Step-by-step explanation:

The production possibility frontier shows the various combinations of two products that a limited resource.can produce.

So in competitive markets any choice along the PPF shows productive efficiency (where increased production of one good leads to reduced production of the other).

A specific choice by society on the PPF is allocatively efficient (concerned with consumer satisfaction, consumers choose which good will most satisfy them).