If a society moves from a period of time with significant unemployment to a time with full employment, its production possibilities frontier will
A) shift rightward.
B) not shift because the society moves from a point inside the frontier to a point on the frontier.
C) shift leftward.
D) not shift because the society moves from one point on the frontier to a point inside the frontier.
E) not shift because the society moves from one point on the frontier to a point outside the frontier.
B
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A firm that is technologically efficient
A) must be economically efficient, but a firm that is economically efficient is not always technologically efficient. B) must be economically efficient, and a firm that is economically efficient must always be technologically efficient. C) is not always economically efficient, and a firm that is economically efficient is not always technologically efficient. D) is not always economically efficient, but a firm that is economically efficient must always be technologically efficient.
Suppose Bev's Bags makes large handbags and small handbags. They sold 70,000 large bags for $45 each and 25,000 small bags for $15 each. If the company had total costs of $2,000,000, what was the profit for this company?
A. $375,000 B. $3,525,000 C. $1,525,000 D. $850,000