An efficient allocation of resources is reached in the figure above when output equals
A) 1 million.
B) 2 million.
C) 3 million.
D) 4 million.
D
You might also like to view...
Which of the following securities has the lowest interest rate?
A) junk bonds B) U.S. Treasury bonds C) investment-grade bonds D) corporate Baa bonds
Expenditures on major need-tested programs from the federal government for medical care amounted to _____ in 2009.
A. $98.1 B. $28.8 C. $46.9 D. $200.0 E. none of these answer options are correct.
The phase out of the subsidies for the purchase of health insurance will increase the implicit marginal tax rate on earnings for which of the following groups?
a. The elderly. b. Individuals and families with incomes between 133 percent and 400 percent of the poverty level. c. Individuals and families with incomes of more than 400 percent of the poverty level. d. All workers employed by firms with fewer than 50 full-time employees.
Inferior goods have an income elasticity of demand that is:
a. positive. b. negative. c. 0. d. greater than 1 in absolute value. e. equal to 1 in absolute value.