Given the prices of two goods, all quantity combinations inside the budget line are:
a. indifferent.
b. efficient.
c. unattainable.
d. attainable.
d
You might also like to view...
Whenever there is adverse selection without signaling or screening, there will be a missing market.
Answer the following statement true (T) or false (F)
A minimum wage law is a:
A. quantity restriction. B. customary norm without legal structure or protection. C. price ceiling. D. price floor.
A supply shock causes a shift in:
What will be an ideal response?
An inward shift of the production possibilities curve
A. represents an economic decline. B. means that the previous levels of production are now unobtainable except under unusual circumstances such as war. C. means that the economy can produce more of both goods. D. represents an economic decline AND means that the previous levels of production are now unobtainable except under unusual circumstances such as war.