-Based on the production function in the above figure,which of the following is an attainable combination of labor and real GDP?
I.300 billion hours of labor and real GDP of $20 trillion
Ii.300 billion hours of labor and real GDP of $8 trillion
Iii.100 billion hours of labor and real GDP of $12 trillion

Question

Quizplus · Accepted Answer

The attainable combination is one that lies on or below the production function curve. Without the figure, we assume that the combination of 300 billion hours of labor and $8 trillion GDP is attainable, as it is likely below the maximum output for that labor input.

-Based on the Production Function in the Above Figure,which of the Following