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 E necessarily represents
A. only motorcycles being produced.
B. overallocation of resources.
C. an impossible production point.
D. technological advancement.
Answer: A
You might also like to view...
The U.S. economy is experiencing falling output, falling employment, falling incomes and rising unemployment. These conditions best describe a business cycle
A) expansion. B) peak. C) trend. D) recession. E) trough.
The demand curve is the upward-sloping line relating price and quantity demanded
a. True b. False Indicate whether the statement is true or false
A person prefers large and small levels of national defense to medium-sized levels of national defense. This person
A. is violating the law of transitivity. B. has single-peaked preferences. C. has multiple-peaked preferences. D. cannot achieve his or her most-preferred outcome.
An individual's labor-supply curve reveals how he or she chooses to allocate
a. limited dollars between luxuries and necessities. b. scarce money between goods and services. c. scarce time between labor and leisure. d. limited time between work at one job and work at another.