Figure 2-2
Assume that U.S. agricultural land is used either to raise cattle for beef or to grow wheat. represents the production possibility frontier for beef and wheat. Production at point H is
a.
unattainable given currently available technology and resources
b.
attainable by more fully employing already available resources
c.
attainable by using better technology which is already available
d.
attainable if beef production drops to zero
e.
attainable if all available resources are used to produce wheat
a
You might also like to view...
The figure above shows a monopoly firm's demand curve. If the price and quantity of haircuts move from point t to point u, the monopoly's
A) total revenue will rise. B) total revenue will fall. C) total revenue will remain the same. D) marginal revenue will increase.
Which of the following belongs to the government regulation to control pollution?
A) emissions standard B) emissions fee C) effluent charge D) All of the above