The above figure shows a nation's production function. Point B is ________ and ________ because ________
A) unattainable; inefficient; the nation is using resources efficiently but they could be more efficient
B) unattainable; inefficient; the nation is using resources inefficiently
C) attainable; inefficient; the nation is using resources inefficiently
D) unattainable; efficient; the nation would be using resources efficiently if they could attain this level of production
E) attainable; efficient; the nation is using resources efficiently
E
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If the interest rate is 10 percent, the present value of $400 to be received one year from today is about
A) $440. B) $390. C) $364. D) $377.
When external costs are present and government imposes a tax equal to the external marginal cost, then efficiency can be achieved
Indicate whether the statement is true or false