The concept of "scarcity" implies that:
a. all output combinations below a nation's production possibilities frontier is unattainable
b. a nation should allocate its resources to the production of only one good.
c. a nation is limited in its capacity to produce goods and services by its available resources and technology.
d. all production combinations above a nation's production possibilities frontier are inefficient.
c
Economics
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Explain what economists mean by full employment and why this rate of unemployment is not zero
What will be an ideal response?
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A good example of perfect price discrimination is
A) selling concert tickets to individuals on the street corner. B) buying concert tickets at the ticket window. C) selling concert tickets at the ticket window. D) buying a concert ticket on the street corner.
Economics