Table 2.3
-Refer to Table 2.3, which shows the production possibilities frontier between the production of capital goods and consumer goods in an economy. If this economy produced 4 units of capital goods, what can be stated of its production of consumer goods?
A) It represents unemployment of resources.
B) It represents zero production of consumer goods.
C) It would not represent an efficient combination of goods.
D) It cannot be reached using available technology.
E) It is less desirable than a point inside the frontier.
Correct Answer:
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Q97: Breaking down the production of a good
Q98: The division of labor _
A) reduces the
Q99: Hans can do 4 loads of laundry
Q100: A curve showing alternative combinations of goods
Q101: Table 2.3 Q103: If all resources are used efficiently to Q104: Exhibit 2.2 Q105: Efficiency involves _ Q106: Exhibit 2.2 Q107: A point outside the production possibilities frontier Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
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A) producing output using a
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