Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 3, Problem 1MCQ
To determine
(a)
Best statement.
To determine
(b)
Best Statement.
To determine
(c)
Best Statement
To determine
(d)
Best Statement.
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A
B
C
D
E
F
Production Options
Output of Output of
Trucks per Day Tanks per Day
0
2.0
5
4
3
2
1
0
3.0
3.8
4.5
5.0
Output of Trucks (per day)
5 A
A
0
0
1
B
What is the opportunity cost of the first truck produced?
Instructions: Enter your response rounded to one decimal place.
tank(s).
2
3
4
E
Output of Tanks (per day)
F
5
6
FIGURE 2-4
Production possibilities curve
Food
Refer to Figure 2-4. Which of the following best describes Point A?
It is efficient.
It is preferable to Point D.
It is inefficient.
It is unattainable.
Cloihing
Choose correct one.
Chapter 3 Solutions
Foundations of Economics (8th Edition)
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