Any point within the utility possibility frontier is:
a. unachievable
b. efficient
c. achievable but inefficient
d. unachievable but efficient
C
You might also like to view...
If a firm sells its output at a price greater than AC, it will earn economic profit.
Answer the following statement true (T) or false (F)
Violent labor-management conflicts of the late 1800s included all of the following except
a. the Haymarket Square riot b. the Carnegie Homestead Works incident c. the Pullman strike d. the Credit Mobilier scandal
Demand for an input is derived from the demand for the final product.
Answer the following statement true (T) or false (F)
The "capture" in the capture hypothesis occurs because
A) regulators try to promote everyone's best interest. B) society doesn't care for regulatory agencies. C) regulators always know what is in society's best interest. D) regulators usually have been or will be associated with the industries they regulate.