The above table shows production combinations on a country's production possibilities frontier. Which of the following points signifies efficient production?
A) 0 units of good X and 40 units of good Y
B) 3 units of good X and 25 units of good Y
C) 10 units of good X and 16 units of good Y
D) 12 units of good X and 1 unit of good Y
A
Economics
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Picture a linear downward-sloping demand curve. If the price continues to fall, price elasticity will
a. decrease b. increase c. remain unchanged d. approach infinity e. increase or decrease, depending on the character of the good
Economics