In the above figure, what is the efficient quantity of hot dogs to produce?
A) 2 thousand per day
B) 4 thousand per day
C) 6 thousand per day
D) The efficient quantity cannot be determined without knowing the PPF for this economy.
B
Economics
You might also like to view...
What is the natural rate hypothesis?
What will be an ideal response?
Economics
If the shifts in AD that will result from policy changes are fully and accurately anticipated, a decrease in government purchases or an increase in taxes would result in which of the following in the short run?
a. a higher level of real output and a higher price level b. a higher level of real output but no change in the price level c. a higher price level and a reduced level of real output d. none of the above.
Economics