Which of the following is NOT a way that point F can become attainable? GUNS 600 E 500 400 300 G 350 I Select one: O a. More workers O b. Better allocative efficiency c. Better training for the workers O d. Technological improvements B I I I 500 580 F D 700 ROSES

Which of the following is NOT a way that point F can become attainable? GUNS 600 E 500 400 300 G 350 I Select one: O a. More workers O b. Better allocative efficiency c. Better training for the workers O d. Technological improvements B I I I 500 580 F D 700 ROSES

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: James earns $9.50 per hour and works full-time, while Alice earns $19 per hour but only works…

A: Opportunity cost is the cost/value of next best alternative forgone while making choice.

Q: Statistical discrimination is the use of some observable characteristic by employers as a screening…

A: The science of sorting and analyzing numerical data for purposes such as gathering information about…

Q: Those who have influence in a work group, including peers, managers, coworkers, and subordinates,…

A: The question is asking for the term that refers to individuals who have influence in a work group.…

Q: Human capital refers to society’s understanding of the best ways to produce goods and services.

A: ‘Human capital’ refers to the compilation of ‘skills’, ‘education’ , ‘technical’ & ‘process…

Q: Discuss how the concepts in microeconomics can be applied to real-world situations and increase your…

A: Microeconomics is the study of economics at a level where the individuals or the organizations make…

Q: Which of the following is considered an economic factor ? Select one: a. leadership b. taxes c.…

A: Economic factors are those factors affect the economy as a whole that can connect and influence a…

Q: Define intrinsic rewards. A. payment made to retired workers from an investment fund B. wages…

A: An organization uses reward schemes to provide both financial and nonfinacial benefits to the…

Q: Timothy quits his job, which pay $86000 a year, to enrol in a 3-year graduate program .His annual…

A: Opportunity cost is defined as the cost of the next best alternative in production or consumption…

Q: Lucy quits her psychiatrist job that pays $200 an hour and opens lemonade business. At the same…

A: Opportunity cost refers to the cost of next best forgone. It is the cost of something that has to be…

Q: Which statement best explains how human capital affects the manufacturing of a product? It affects…

A: The economic value of a worker's experience and talents is referred to as human capital. Employers…

Q: 8.Explain Kirkpatrick model of evaluation. Models of Evaluation: Kirkpatrick Evaluation level 1.…

A: The Kirkpatrick Model of Evaluation is a well-known framework for assessing the effectiveness of…

Q: the difference between mercantilism, liberalism, and Marxism. How does each view the purpose of…

A: Mercantilism was a trade-related economic policy that mainly existed from the 16th to the 18th…

Q: After you show that you're in an approved apprentice training program, you can receive up to _______…

A: There are different licensing requirements for an electrician an apprentice, journeyman or master…

Q: a good example of a resource would be? a. stocks b. Human capital c. bonds d. intital public…

A: Resource refers to the service or the various assets owned by the business which are used for the…

Q: Which of the following is a limitation in the society's economizing problem? Choose all that apply.…

A: The economic problem encapsulates the fundamental challenge of reconciling finite resources with…

Q: Theories should be judged based upon how a. consistently and accurately they predict. b.…

A: Theories are formed to explain the economic phenomena, under which it is explained that why and how…

Q: Question 1 Classify the following as microeconomics or macroeconomics and provide a justification…

A: The term Economics was originated from the Greek word 'Oikonomia' which means study of household.…

Q: According to Adam Smith, the butcher, the baker, and the brewer do what they do because of…

A: Adam Smith economic theory: Adam Smith is a philosopher who has given a theory that market tends to…

Q: A researcher who ignores ability bias tends to over-estimate the return to schooling because the…

A: Labor economics refers to a part of economics that spotlights on the investigation of how people,…

Q: Assume that all workers are equally productive, but that male wages are $14 and Female wages are…

A: The discrimination coefficient depicts the employer "biased" adjustment on making to the black wage.

Q: Microeconomics is best defined as the study of _____. a- how to maximize profit b-economic…

A: Microeconomics is best defined as the study of "(e)-people's choices under constraint." This…

Q: In the traditional labor model, the supply of labor interacts with the demand for labo to produce a…

A: Labor economics is a branch of economics that looks to understand the working and dynamics of the…

Q: What is the best test of an economic theory? a. Whether it produces implications that are…

A: Economic theory: It is a vent for research in the economic areas. these theories are used to solve…

Q: Individuals who come up with a new idea for a good or service, then they make it a reality are…

A: Entrepreneurial economics is a branch of economics that deals with the entrepreneurs and their…

Q: Which of the following attributes is most closely associated with a necessity entrepreneur? A.…

A: An entity or organization that is being engaged in activities including professional, commercial, or…

Q: Identity the type of economic system. Enumerate one advantage and one disadvantage per…

A: 1. The state regulates income inequality in the mixed economic system. Advantages: The government…

Q: Jonathan is deciding whether to study for his economics exam at a café or go to a concert with…

A: In economics, opportunity cost refers to the value of the next best alternative that is foregone…

Q: In deciding to produce a given good, an individual would always choose A. The process that uses the…

A: To determine the production method that a producer must always choose.

Q: Which of these statements best describes what microeconomics is? a. The study of National Income a…

A: Economics is the branch of knowledge which is concerned with production, consumption and…

Q: The answer to, "What goods are to be produced?" deals with: who gets the goods. Ohow tastes and…

A: The economic problems of "What goods are to be produced", "How to produce", and "For whom to…

Q: A person who translates business requirements into technical systems requirements is a ___________.

A: The businesses include the various components in an economy wherein the major considerations involve…

Q: Which of the given options would be studied in a microeconomics course? (A) How an increase in the…

A: To resolve the inquiry successfully, it's vital to initially recognize microeconomics and…

Q: Productivity measures: Select one: a. per unit production costs. b. the changes in real wealth…

A: The term 'productivity' is primarily used in t he production process because it explains the ability…

Q: The Norway spruce trees that are grown in Christmas tree farms are considered? A. Land B. Capital C.…

A: The measure that depicts resources or inputs that are being used in process of production for…

Q: The application of new technology refers to A. innovation. B. imitation. C. investment. D.…

A: To create new technology, an inventor is required to research the need for such technology and how…

Q: Shirts Uo PPF₁ PPF2 PPF3 Books Consider a society facing the production possibilities frontiers in…

A: PPF stands for Production Possibility Frontier, which is a graphical representation of the different…

Q: In economics, what is the law of diminishing marginal returns? A. The tendency of firms to minimize…

A: The law of diminishing marginal returns is a key guideline in financial matters and assumes an…

Q: The most appropriate description of labor market equilibrium under compensating differential is that…

A: Compensating differentials refer to wage differences that arise due to non-monetary factors such as…

Q: How did businesses change over the period 1870-1900? Provide three examples of successful people,…

A: The organisation and management of American industry underwent a significant transformation in the…

Q: QUESTION 28 Fl in the blank using the number that corresponds to the correct word or phrase in the…

A: The emphasis on opportunity cost, the assumption of maximization in terms of one's own…

Q: When the natural economic growth process begins in a capitalist economy A. the prices of capital…

Q: Suppose an individual with a high school degree lives for only two periods and fac two schooling…

A: Present value, otherwise called discounted value, is a financial idea used to decide the ongoing…

Q: How does TripAdvisor use the four basic inputs of an economic system?

A: Introduction: An economic system, sometimes known as an economic order, is a system for producing,…

Q: Identify the three main types of economic activities. Then tell one way that all three are similar…

A: Identify the three main types of economic activities:- Primary sector activities:- All activities…

Q: Which of the following statements is not an empirical evidence regarding education? a.Higher levels…

A: Education has a positive spillover effect on the society.

Q: Entrepreneurs are: a) enterprising person who discovers potentially profitable opportunities and…

A: ANS Entrepreneurs are those persons who organize and manages a business undertaking, accepting the…

Question

Which of the following is NOT a way that point F can become attainable? Select one: a. More workers b. Better allocative efficiency C. Better training for the workers d. Technological improvements

Which of the following is NOT a way that point F can become attainable?
GUNS
600 E
500
400
300
Select one:
C
G
B
a. More workers
b. Better allocative efficiency
O c. Better training for the workers
O d. Technological improvements
I
I
I
I
I
350 500 580
A
F
D
700
ROSES

Definition Definition State in which the marginal benefit to a consumer is equal to the marginal cost of producing a product. Allocative efficiency occurs when all the market participants (buyers and sellers) have all of the knowledge required to make informed decisions regarding consumption and production of goods and services.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Define ppf

VIEW

Step 2: Explain the correct answer

VIEW

Solution

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

How do you think the impact of technology in economics is changing the choices for future careers? Evaluate the impact of technology in your own future career choice.
11. Economics: Labor Economics Thank you for your help and support Academic Agent!
What will a technological advancement do? A. shift the demand curve to the left B. shift the supply curve to the left C. shift the supply curve to the right D. shift the demand curve to the right
Raad wants to sell his workout DVDS in the Middle East, Asian, and Latin African countries. will help him reach vendors abroad, without the expense of traveling to meet them face-to-face. A website and other technological advances B. Partnering with a large U.S recording studio C. The SBA (Small Business Administration) D. An incubator facility
1. What are the characteristics of a good theory? What makes a theory practical? How can an entrepreneur use the resource-based theory for his or her advantage? 2. Explain the problems we would have if there was a “law of entrepreneurship.” 3. How does each of the four attributes of resources contribute to SCA?
Which of the following are ways in which an entrepreneur earns a profit? Check all that apply. a. By exploiting arbitrage opportunities b. By paying wages, interest, and rent to other factors of production c. By making entrepreneurial judgments in the face of uncertainty
In what ways are “creative ideas” more/less important than technical ability?
17. Economics: Labor Economics Thank you for your help and support Academic Agent!
4. The opportunity cost of changing your decision on what to major in college is highest___ a. before you have earned any of the credits needed to obtain the major you initially chose. b. after you have officially declared a major. c. after you have earned ½ of the credits to obtain the major you initially chose. d. after you have completed your major and received your diploma.
Carefully define the notion of opportunity cost. Use this notion to explain the following phenomena: a. Waiting lines are longer in poor neighborhoods b. College enrollment goes up when unemployment is high c. Old people are more likely to "penny shop" than younger folks d. Historically, women have had higher rates of religious participation than men
Among the given choices, which of these is the incorrect statement? a. Female education helps reduce the fertility rate and child mortality rate. b. Improvement in female education and labor force participation helps break the vicious circle of poverty. c. Female education helps reduce participation of women in labor market activities. d. The rate of return on female education is higher than the rate of return on male education.
Which situation fits Marx's description of the condition of workers in capitalist economies? a. A worker updates her resume to be ready for an unexpected layoff. b. A worker benefits from a mentor's advice as he works toward a desired promotion. c. A worker with chronic illness stays in an unwanted job to receive health insurance. d. A worker receives shares of company stock in exchange for exemplary work.