In the above table, the technique that is never economically efficient is

A) A.
B) B.
C) C.
D) D.

C

Economics

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Which of the following statements does not reflect the concept of factor suitability?

A. It is one of the three concepts that explain the Law of Increasing Cost. B. If the economy is shifting from butter to gun production, the butter makers will give the gun makers their worst workers. C. Too many farmers work one field, eventually it will lead to less production. D. All farmland is not equally well-suited for producing corn.

Economics

Below is a table showing the maximum amount five potential buyers are willing to pay for a car.

a) What is the quantity demanded if cars sell for $10,000 each? b) Under conditions of perfect competition, how many cars are bought if the marginal cost of producing a car is $25,000? c) How many cars are bought if the marginal cost of producing a car falls to $20,000?

Economics