Refer to the table shown. A firm would be most likely to hire between:Number of workersMarginal product of workers1527384105116775839010?1
A. 5 and 8 workers.
B. 8 and 10 workers.
C. 1 and 3 workers.
D. 3 and 4 workers.
Answer: A
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An economy's production possibilities curve depicts different combinations of goods that can be
a. consumed by households in the economy since households are the suppliers of resources b. consumed by firms in the economy since firms actually do the producing c. produced in the economy with the available technology and resources d. produced and consumed by firms since they are the sole source of production in the economy e. bought and sold by both firms and households on the resource market
There can be no shortages or surpluses at the equilibrium price.
a. true b. false