Refer to Table 2-2. Assume Billie's Bedroom Shop only produces pillows and blankets. A combination of 5 pillows and 21 blankets would appear
A) along Billie's production possibilities frontier.
B) inside Billie's production possibilities frontier.
C) outside Billie's production possibilities frontier.
D) at the vertical intercept of Billie's production possibilities frontier.
B
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The federal government pays airlines to service small cities in the United States through a subsidy program called Essential Air Service which was established in 1978 when the airline industry was deregulated
Most subsidies can't exceed $200 per passenger. Without this subsidy, what is TRUE? A) There would be higher prices and fewer flights. B) There would be lower prices and fewer flights. C) There would be an increase in supply. D) There would be a decrease in demand.
"If Mexico is currently operating at a point inside its production possibilities frontier, then there are unemployed resources in Mexico." Is this statement true or false? Briefly explain your answer
What will be an ideal response?
Suppose Larry's Lariats produces lassos, and uses nine feet of rope to make each lasso. The rope is put into a machine that automatically cuts it to the right length, then seals the ends to prevent fraying. The rope is then hand tied, dipped, and wound before being placed in a packaging machine to prepare it for retail sale. The total costs for this company would include:
A. the cost of rope. B. employee's wages. C. the rope-cutting machine. D. All of these expenses would be included in total cost.
In case of a disagreement between a regional manager and a business area manager of a matrix organization who have equal decision making authority, the decision should be made at higher levels of the organization
Indicate whether the statement is true or false