The most efficient point on the production possibilities curve is the midpoint on the curve
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Suppose the table below describes the relationship between price and quantity demanded for a monopolist.QuantityPrice1$102$93$84$75$66$57$48$3 The marginal revenue of the fifth unit of output is:
A. $2. B. $30. C. -$2. D. $6.
Economics
In terms of the production possibilities curve, inefficiency is represented by
A. All points inside the curve. B. All points outside the curve. C. All points on the curve. D. A rightward shift of the curve.
Economics