Use the above table. If the level of production was determined by the market, it would be
A) 4.
B) 5.
C) 6.
D) 7.
C
You might also like to view...
Between 1981 and 2012, the United States
A) had a current account surplus almost every year. B) some years had a deficit and some years had a surplus that totaled a surplus of $2.5 trillion. C) had a current account surplus or deficit that almost equal to $0 every year. D) had a current account deficit almost every year. E) some years had a deficit and some years had a surplus that netted out to $0.
If the economy were producing at point C and moves to point B
Hypothetical Production Schedule for a Two-Product Economy
A. 4 units of capital goods are gained, while the capacity to produce 32 consumer goods are lost.
B. 16 units of capital goods are gained at an opportunity cost of producing 40 consumer goods.
C. 16 units of capital goods are gained at an opportunity cost of producing 72 consumer goods.
D. 4 units of capital goods are gained, while the capacity to produce 72 consumer goods are lost.
Suppose the cafeteria at a university puts healthy foods such as fruit and yogurt in an easily accessible location but places junk foods somewhere slightly less prominent. This would be an example of a(n):
A. nudge. B. push. C. irrational behavior. D. incentive compatibility problem.
All individuals and firms in a country must gain from trade in order for it to be beneficial to the nation
Indicate whether the statement is true or false