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- The table below represents the combinations of beet and corn produced on å tract of lahd o given size and fertility Corn (bushels) Beef (kg) 10000 8000 900 6000 1200 4000 1400 2000 1475 1500 Which of the following combination represents unattainable production levels with the current tract of land? Select one: O a. 8000 bushels of corn and 500 kg of beef O b. 6000 bushels of corn and 1300 kg of beef O c. Both 8000 bushels of corn and 1200 kg of beef and 6000 bushels of corn and 1300 kg of beef d. 200 bushels of corn and 1475 kg of beef e. 8000 bushels of corn and 1200 kg of beefThe table below represents the combinations of beef and corn produced on a tract of land of a given size and fertility Corn (bushels) Beef (kg) 10000 8000 6000 900 1200 4000 1400 2000 1475 0. 1500 Which of the following combination represents unattainable production levels with the current tract of land? Select one: O a. 8000 bushels of corn and 500 kg of beef O b. 200 bushels of corn and 1475 kg of beef O c. Both 8000 bushels of corn and 1200 kg of beef and 6000 bushels of corn and 1300 kg of beef O d. 8000 bushels of corn and 1200 kg of beef O e. 6000 bushels of corn and 1300 kg of beefThe production possibility curve shows all the following except O a. Economic growth O b. The law of demand O c. The supply curve of 2 goods O d. The law of increasing opportunity cost O e. Inefficiency in production
- Which of the following economic system represents an egalitarian society? O a. Capitalist economy O b. Socialistic economy Oc Mixed economy Od. None of these Machines, tools, equipment, as factor of production are cailed.. Oa Capital O b. Enterprise Oc Laborers Od. Land In a capitalist economy, what does private property mean? O a. Public and private sector resources Ob. Government owned resources in an economy. Oc Equipment and buildings owried by business or individuals Od. Buildings, farms, etc. owned by individuals and the governmentciples of Microeconomics - Spring21 Which of the following is CORRECT? Select one: O a. If a firm is technologically efficient, it is always economically efficient. O b. If a firm is technologically efficient, it is always producing at the lowest costs of production. O c. If a firm is economically efficient, it is always technologically efficient. O d. None of these answers is correct. DUS PAGE NEPlease choose the answer that best completes this sentence. The higher the discount rate, should be consumed in the the present, and the amount of non-renewable resources that the amount of non-renewable resources that should be consumed in the future, if the goal is to maximize the net benefits generated by consumption of the non-renewable resource. Select one: O a. the lesser, the greater O b. the older, the younger Oc. an equal, an equal O d. the greater, the lesser
- Could a nation be producing in a way that is allocatively efficient, but productively inefficient?The concept of opportunity cost is that the economic cost of using a factor of production is the alternative use of that factor that is given up. O the cost of production varies depending on the opportunity for technological application. O taking advantage of investment opportunities involves costs. O in a market economy, taking advantage of profitable opportunities involves some money cost.2. What economic opportunity cost in COVID 19?
- E3. It is where cities continuously grows, resources become scarce and people tend to seek new land for them to plant cops and other resources for their survival? O a. financial age O b. start-up age O c. explorer's age O d. information's ageGmail Remaining Time: 4 hours, 12 minutes, 19 seconds. * Question Completion Status: 60°F Cloudy Ⓒ YouTube 2 Maps S * What does the shape of the Production Possibilities Frontier say about the production of these two goods ? O A. Goods Land M require identical resources to produce. O B. There are decreasing Opportunity Costs as more of Good M is produced. O C. There is Zero Opportunity Cost in terms of Good L as more of Good M is produced. O D. Goods L and M are used in fixed proportions to produce another good. O E. Goods L and M require different resources to produce. 3 W E Lamar State Colleg... us history D $ A R LL 40 % 5 T 6 Good L O Search & Y 10 7 G H 5 5 Good M U 8 ly f10 ( 1 9 J K 10 O O O L PConsider the production possibilities frontier in the figure shown. The opportunity cost of cars when moving from point B to point C: Cigars 4004 300 200 100 O a Ob OC Od 10 B C 20 30 D 40 Cars is greater than the opportunity cost of cars when moving from point A to point B. None of these statements are true. is less than the opportunity cost of cars when moving from point A to point. 8. is greater than the opportunity cost of cars when moving between any other two points.