Which of the following is an example of an economic trade-off that a firm has to make?
A)whether it is cheaper to produce with more machines or with more workers
B)deciding why consumers want its products
C)whether or not consumers will buy its products
D)deciding what profit margin it desires for its products

Question

Quizplus · Accepted Answer

A firm has to decide whether it is more cost-effective to produce with more machines or with more workers, which is an example of an economic trade-off. The other options are not examples of economic trade-offs, as they do not involve choosing between alternative options with different costs or benefits.

Which of the Following Is an Example of an Economic