Use the figure below to answer the following questions. Figure 10.2.1
-Refer to Figure 10.2.1 which illustrates Tania's Teapots' total product curve.Which one of the following statements is false?
A)All the points above the curve are unattainable.
B)All the points below the curve are attainable.
C)All the points below the curve are inefficient.
D)The cost of producing at point B equals the cost of producing at point C.
E)All the points on the curve are attainable.

Question

Use the figure below to answer the following questions.  Figure 10.2.1
-Refer to Figure 10.2.1 which illustrates Tania's Teapots' total product curve.Which one of the following statements is false?
A)All the points above the curve are unattainable. 
B)All the points below the curve are attainable. 
C)All the points below the curve are inefficient. 
D)The cost of producing at point B equals the cost of producing at point C. 
E)All the points on the curve are attainable.

Quizplus · Accepted Answer

The total product curve represents the maximum output that can be produced with a given amount of input. Points above the curve are unattainable with current resources, points below the curve are attainable but inefficient because they do not use resources to their full potential, and points on the curve represent efficient use of resources. The cost of producing at different points on the curve can vary because it depends on the combination of inputs used, not just the amount of output produced. Therefore, the statement that the cost of producing at point B equals the cost of producing at point C is false, as it assumes costs are the same at different points on the curve without considering the mix of inputs.

Use the Figure Below to Answer the Following Questions