Refer to the information provided in Figure 2.4 below to answer the question(s) that follow. Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable.
B. cannot be produced with the current state of technology.
C. represents underallocation of resources.
D. represents what the people want.
Answer: B
You might also like to view...
According to the "beachhead effect," in order to undo the effects of a strong-dollar period, the real value of the dollar
A) must fall to at least half of its value before appreciation of the dollar began. B) must fall to the value it had before appreciation of the dollar began. C) must fall to a much lower level than it had before appreciation of the dollar began. D) must actually appreciate before it depreciates to undo the effects of a strong-dollar period.
You are the mayor of your home town, and one day you arrive at city hall to find angry voters demonstrating against you. They are mad because your office created a garbage-collection monopoly by awarding only one company a permit to collect garbage in your town. The voters claim that the company is overcharging and providing poor service. They want you to do something that will lower rates and improve service. You call your staff economist, who presents evidence that there are substantial economies of scale to garbage collection. What are your options if you are interested in efficiency?
What will be an ideal response?