A production indifference curve shows all combinations of input quantities capable of producing a given quantity of output
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
One of the main roles of a central bank is:
A. accepting deposits from households and other private individuals. B. coordinating the banking system to ensure a sound economy. C. funding federal government spending. D. managing the nation's money demand.
Are all externalities negative? Explain
What will be an ideal response?
Suppose that a firm maximizes its profits by producing a quantity of 20 units. The market price is $5. The firm's variable costs are $70 and its fixed costs are $40. What should the firm do in the short run? In the long run?
What will be an ideal response?
Which of the following is NOT true about a tariff?
A. It is a tax. B. It is a barrier to entry in a market. C. It affects the amount of supply of imported goods. D. It leads to a natural monopoly.