-A total output of 3 TVs and 4 stereos:
A) would never be chosen because the economy is capable of producing a larger total output
B) represents the full employment of available resources
C) involves the employment of an economy's scarce resources at less than their full capacity
D) is unobtainable in this economy
E) would always be chosen because this is the product combination that gives the economy's citizens the most satisfaction
Correct Answer:
Verified
Q51: Which of the following is not an
Q52: Q53: Consider the following two tables. Q54: Assume that a change in government policy Q55: The production possibilities curve illustrates the basic Q57: The notion of opportunity cost is best Q58: The concept of opportunity cost: Q59: If a society is currently producing 9 Q60: The production possibilities curve: Q61: The problem of economic scarcity forces every
A)is irrelevant in
A)shows all levels of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents