Author Question: Efficiency is defined as A) the maximum consumption of goods. B) the production of goods and ... (Read 107 times)

RODY.ELKHALIL

  • Hero Member
  • *****
  • Posts: 591
Efficiency is defined as
 
  A) the maximum consumption of goods.
  B) the production of goods and services.
  C) production of output at minimum cost.
  D) arriving at one's destination quickly.

Question 2

Refer to the above figure. A price control has been set which has led to a shortage. This means that a
 
  A) price ceiling has been set at P1.
  B) price floor has been set at P1.
  C) price ceiling has been set at P2.
  D) price floor has been set at P2.



wfdfwc23

  • Sr. Member
  • ****
  • Posts: 338
Answer to Question 1

C

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

For a complete list of videos, visit our video library