Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point A necessarily represents
A. only hybrid cars being produced.
B. an unattainable production point.
C. what society wants.
D. the economy's optimal production point.
Answer: A
You might also like to view...
The aggregate supply curve reflects the relationship between the price level and
a. aggregate demand b. unemployment c. real GDP d. employment e. aggregate expenditure
Which of the following industries is best characterized as monopolistically competitive?
A. Cereal B. Local electricity service C. Crude oil D. Wheat
The marginal benefit of an additional beach towel is $12. The marginal cost of producing an additional beach towel is $8. If producers are minimizing the average costs of production, then we can conclude:
A. beach towel production is allocatively efficient than not productively efficient. B. Beach Tower production is not allocatively efficient but is productively efficient. C. beach towel production is neither allocatively nor productively efficient D. beach towel production is both allocatively and productively efficient
A payment to an owner of a resource in excess of its opportunity cost is know as
A. real wages. B. economic rent. C. accounting profits. D. financial interest.