Refer to the above diagram for athletic shoes.If the current output of shoes is Q₃, then: A)resources are being allocated efficiently to the production of shoes. B)society would consider additional units of shoes to be more valuable than alternative products. C)society would consider additional units of shoes to be less valuable than alternative products. D)society would experience a net gain by producing more shoes.

Question

Quizplus · Accepted Answer

If the current output of shoes is Q₃, it means that society is already producing a significant quantity of shoes. Therefore, producing additional units of shoes would lead to a situation where society would have more shoes than it needs or wants, making additional units less valuable than alternative products. This implies that society would consider additional units of shoes to be less valuable than alternative products.

Refer to the Above Diagram for Athletic Shoes