It would be inefficient but possible for this economy to produce?1001dryers9080C70A6050DB4030201010 20 30 40 50 60 70 80 washersO 90 dryers and 20 washers.50 dryers and 50 washers.O Two of the answers are correct.O 60 dryers and 20 washers.

The question is asking which production combination would be inefficient but still possible for the…

Answered: It would be inefficient but possible…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 24RQ: What is a production technology?

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Similar questions

Suppose you have a team of two workers: one is a baker and one is a chef. Explain why file kitchen can produce more meals in a given period of time if each worker specializes in what they do best than if each worker tries to do everything from appetizer to dessert.
Suppose the cost of machines increases to 55, while the cost of labor stays at 40. How would that affect the total cost of the three methods? Which method should the film choose now?
Give the three reasons that explain why the division of labor increases an economys level of production.
If two painters can paint 200 square feet of wall in an hour, and three painters can paint 275 square feet, what is the marginal product of the third painter?
Could a nation be producing in a way that is allocatively efficient, but productively inefficient?
A small company that shovels sidewalks and driveways has 100 homes signed up for its services this winter. It can use various combinations of capital and labor: intensive labor with hand shovels, less labor with snow blowers, and still less labor with a pickup truck that has a snowplow on front. To summarize, the method Choices are: Method 1: 50 units of labor, 10 units of capital Method 2: 20 units of labor, 40 units of capital Method 3: 10 units of labor, 70 units of capital If hiring labor for the winter costs $100/unit and a unit of capital costs 400, what is the best production method? What method should the company use if the cost of labor rises to $20/unit?
Retune to Table 7.2. In the top half of the table, at what point does diminishing marginal productivity kick in? What about in the bottom half of the table? How do you explain this?
What is the difference between microeconomics and macroeconomics?
What are three reasons to study economics?
What is the difference between economies of scale, constant returns to scale, and diseconomies of scale?
You just got a job in Washington, D.C. You move into an apartment with some acquaintances. All your roommates, however, are slackers and do not clean up after themselves. You, on the other hand, can clean faster than each of them. You determine that you are 70 faster at dishes and 10 faster with vacuuming. All of these tasks have to be done daily. Which jobs should you assign to your roommates to get the most free time overall? Assume you have the same number of hours to devote to cleaning. Now, since you are faster, you seem to get done quicker than your roommate. What sorts of problems may this create? Can you imagine a trade- related analogy to this problem?
Do economists have any particular expertise at making normative arguments? In other words, they have expertise at making positive statements (i.e., what will happen) about some economic policy, for example, but do they have special expertise to judge whether or not the policy should be undertaken?

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It would be inefficient but possible for this economy to produce? 100 1dryers 90 80 C 70 A 60 50 D B 40 30 20 10 10 20 30 40 50 60 70 80 washers O 90 dryers and 20 washers. 50 dryers and 50 washers. O Two of the answers are correct. O 60 dryers and 20 washers.