In the figure above, point A is undesirable because
A) there is an inefficient use of resources.
B) too much health care is being produced.
C) the opportunity costs of health care is too high.
D) point E is a more realistic option in this economy.
A
Economics
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Fixed costs plus variable costs:
a. increasing marginal returns b. total cost c. marginal revenue d. marginal product of labor e. marginal cost
Economics
If a firm can double inputs and, thereby, more than double output over the range of output the market demands, it is said to be experiencing
a. decreasing minimum efficient scale b. increasing returns to scale c. constant returns to scale d. decreasing returns to scale e. increasing long run average cost
Economics