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 true?
A)The points above the curve are attainable and inefficient.
B)The points below the curve are attainable and inefficient.
C)The points below the curve are inefficient and unattainable.
D)The points on the curve are efficient and unattainable.
E)Marginal product is equal at every point on the total product curve.

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 true?
A)The points above the curve are attainable and inefficient. 
B)The points below the curve are attainable and inefficient. 
C)The points below the curve are inefficient and unattainable. 
D)The points on the curve are efficient and unattainable. 
E)Marginal product is equal at every point on the total product curve.

Quizplus · Accepted Answer

The points below the curve represent combinations of inputs where the firm is not producing as much output as it could for the given level of input usage, making them inefficient. However, they are attainable as the firm can choose to operate at lower levels of input usage. Points above the curve would represent levels of output that cannot be attained with the given levels of input usage. The points on the curve represent the maximum output that can be produced from a given combination of inputs, making them efficient but attainable. The statement about marginal product is not relevant to this question.

Use the Figure Below to Answer the Following Questions