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Which is an unattainable result in microeconomics?
C. technological advances in the tank industry. D. both the labor force and capital stock decreasing. B. both the labor force and capital stock increasing. In the diagram to the right, point Upper G indicates an A.efficient result. B.unattainable result. C.inefficient result. B.unattainable result.
Which is the best definition of microeconomics?
A.The ability to produce a good or service at a lower opportunity cost than other producers. B. The ability to produce more of a good or service than competitors using the same amount of resources. C. The gain from selling a product for more than it costs to produce that product. D.
What are the frontiers in microeconomics Chapter 2?
The production possibilities frontiers depicted in the diagram to the right illustrate A. technological advances in the automobile industry. B. technological advances in the tank industry. C. increases in both the labor force and capital stock. D. technological advances in both the tank and automobile industries
What do you mean by gain in microeconomics?
The ability to produce more of a good or service than competitors using the same amount of resources. C. The gain from selling a product for more than it costs to produce that product. D. The gain from consuming a product whose benefit is greater than its cost. E. The ability to use all available resources to produce output.
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