Point C on the production possibilities frontier in the above diagram illustrates
A) a point that achieves production efficiency.
B) a combination of goods and services that cannot be produced efficiently
C) all goods and services that are desired but cannot be produced due to scarce resources.
D) a production point that has underutilization of resources
A
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Script Pro produces robots that are sold to retail pharmacies. Among other things the robotsprint and apply the prescription and auxiliary labels and delivers uncapped vials for final inspection using on-screen drug image verification
The manager of the pharmacy is trying to calm his workers' fear that their jobs are in jeopardy if he starts using these robots. What economic explanation could the manager use to assuage the fears of his employees that their jobs are in jeopardy.
A monopoly which arises from significant economies of scale is referred to as a
A) monopolistic competitor. B) strategic resource monopoly. C) natural monopoly. D) patent monopoly.