In the above figure, the production of 75 ukuleles and 75 guitars is
A) efficient production.
B) inefficient production.
C) impossible production.
D) full employment production.
C
You might also like to view...
Suppose the Federal Reserve increases the money supply. Which of the following will tend to occur as a result of this policy in a Keynesian model?
A) an inflationary gap B) demand-pull inflation C) a movement along the short-run aggregate supply curve D) all of the above
If a government-imposed price floor legally sets the price of milk above market equilibrium, which of the following will most likely happen?
a. The quantity of milk demanded will increase. b. The quantity of milk supplied will decrease. c. There will be a surplus of milk. d. There will be a shortage of milk.
Briefly describe what happens when a perfectly competitive firm increases the total quantity it supplies of a good
For a monopoly, for all units greater than one, the marginal revenue curve:
A. lies below the average revenue curve. B. lies above the demand curve. C. cannot be negative. D. All of these statements are true.